{"id":7475,"date":"2014-05-19T05:18:17","date_gmt":"2014-05-19T05:18:17","guid":{"rendered":"http:\/\/www.greytrix.com\/blogs\/sageaccpacerp\/?p=7475"},"modified":"2014-05-19T05:18:17","modified_gmt":"2014-05-19T05:18:17","slug":"recurring-charges-is-this-easy-in-sage","status":"publish","type":"post","link":"https:\/\/www.greytrix.com\/blogs\/sageaccpacerp\/2014\/05\/19\/recurring-charges-is-this-easy-in-sage\/","title":{"rendered":"Recurring Charges is this easy in Sage 300 ERP"},"content":{"rendered":"

Recurring? \u00a0One that occurs again periodically or repeatedly.<\/p>\n

Recurring charges simply refer to transactions which takes place periodically. It also means to raise an invoice for a particular service or order at specified intervals to your customer. Let\u2019s take an example of \u201cconsulting\u201d. Your customer who has taken consulting services from you will pay a fixed\/agreed amount every week or month and in turn, you would send the invoices accordingly. These transactions occur at a specified interval, hence recurring.<\/p>\n

Other common examples of recurring charges are rent, water utility charges etc.<\/p>\n

Greytrix Sage ERP X3 Blog :\u00a0<\/strong><\/em><\/span>Greytrix Too Falls In Love With Sage ERP X3 Version 7<\/a>
\nHow does an A\/R recurring charge work in SAGE 300 ERP?<\/b><\/p>\n

Before we move on, let\u2019s take a look on Recurring charge code & Schedule code which is very important to do in a recurring charge transaction.<\/p>\n

Recurring charge code: While creating a code to define a recurring charge, we can use the same recurring charge code for charges with different customers. We can specify a range of one or more codes when you create a batch of recurring charges.<\/i><\/p>\n

Schedule code: scheduled code is used to ensure when the recurring charge is to be processed. We create a schedule code to define a schedule\/time frame to process the recurring charge. Note that you must have an authorization to maintain schedules to be able to add or modify a schedule. <\/i><\/p>\n

>> A\/R \u2013 A\/R setup \u2013 Options \u2013 Processing \u2013 mark the<\/b> \u201cProcessing recurring charges<\/i><\/b>\u201d.<\/p>\n

\"Untitled\"<\/a><\/p>\n

Selecting the Processing Recurring charges<\/b> will enable the recurring charges form under A\/R Customers. <\/i>
\n\u00a0>><\/strong> \u00a0\u00a0A\/R \u2013 A\/R Customer \u2013 Go into Recurring Charges.<\/b><\/p>\n

With the help of SAGE, you may either manually enter recurring charge or set a reminder where the system manager will help the user to process the charge when it is due.<\/p>\n

\"Untitled\"<\/a><\/p>\n

We can say that recurring charges refers to a simplified payment receiving process in SAGE<\/i> \u00a0300 ERP<\/i>. Recurring charges in SAGE<\/i> helps you track the continuous payments from your customers. Don\u2019t worry about late payments, lost checks or raised invoices. SAGE<\/i> helps you set reminders and scheduling.<\/p>\n

There are few features in the form where you can select expiration type of a charge. Payment terms as to select the payment i.e. advance, 15 days, 30 days etc.<\/p>\n

There are some tabs in the form to add or edit the additional information about the recurring charge. You can set distribution code, taxes and optional\/additional fields to a particular recurring charge.<\/p>\n

Set the Reminders:<\/i><\/b><\/p>\n

Common Services \u2013 Scheduling \u2013 Schedules<\/i><\/b><\/p>\n

\"Untitled\"<\/a><\/p>\n

Here is an example: Let say ABC test is your customer who took consulting services from you and agreed to pay weekly a certain amount \u201cx<\/i>\u201d. Now to keep it easy when it comes to continuous payments, I Log into SAGE, open the Recurring form, add ABC test, apply the invoice \/transaction date weekly and set a schedule. You won\u2019t have to worry again and again to raise invoice. Isn\u2019t this an easy activity to save time?<\/p>\n

Once we entered the recurring charge, it should be processed for the impact into A\/R.<\/p>\n

How to invoice for a recur charge<\/i><\/b>?<\/i><\/b><\/p>\n

A\/R \u2013 A\/R periodic processing \u2013 Create recurring charge batch <\/b><\/p>\n

1.<\/strong> Select the type of record by which to create charges (Recurring Charge Code, Customer Number, Customer Group, or National Account).
\n2.<\/strong> Specify the ranges for the selected record type.
\n3<\/strong>. Process<\/p>\n

\"Untitled\"<\/a><\/p>\n

(We created a batch to post invoice)<\/b> Look at the image above; Use this form to create recurring-charge invoices for the customers and charges you select. By doing this the program will create a new invoice (recurring charge invoice) batch with the number.<\/p>\n

So you create one batch of recurring-charge invoices at a time, but you can have as many open batches of recurring-charge invoices as you need. Post the batched and A\/R will process recurring charges for customers. Make sure the customer records aren\u2019t inactive or on hold.<\/p>\n

Use this fantastic feature and keep the cash flow going. So Start using recurring charges in SAGE 300 ERP and take the benefit.<\/i><\/b><\/p>\n

Also Read:
\n<\/strong>1.<\/strong>\u00a0Recurring Payables in Accounts Payable module of Sage 300 ERP
\n<\/a>2<\/strong>.\u00a0Create Recurring Entries in General ledger of Sage 300 ERP
\n<\/a>3<\/strong>.\u00a0How to Handle Recurring Transactions Feature in Sage Accpac ERP
\n<\/a>4<\/strong>.\u00a0Closing Procedure Checklist for Sage 300 ERP
\n<\/a>5.<\/strong>\u00a0Monthly Audit Methodology in Sage 300 ERP<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Recurring? \u00a0One that occurs again periodically or repeatedly. Recurring charges simply refer to transactions which takes place periodically. It also means to raise an invoice for a particular service or order at specified intervals to your customer. Let\u2019s take an example of \u201cconsulting\u201d. Your customer who has taken consulting services from you will pay a\u2026 Read More »<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[18,73,79,647,877,2197,2311],"class_list":["post-7475","post","type-post","status-publish","format-standard","hentry","category-sage-accpac","tag-18","tag-accounts-receivable","tag-accpac","tag-customer","tag-erp","tag-recurring-charges","tag-sage"],"yoast_head":"\nRecurring Charges is this easy in Sage 300 ERP - Sage 300 ERP \u2013 Tips, Tricks and Components<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.greytrix.com\/blogs\/sageaccpacerp\/2014\/05\/19\/recurring-charges-is-this-easy-in-sage\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Recurring Charges is this easy in Sage 300 ERP - Sage 300 ERP \u2013 Tips, Tricks and Components\" \/>\n<meta property=\"og:description\" content=\"Recurring? \u00a0One that occurs again periodically or repeatedly. 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