Overview:
This feature allows users to set up repeating credit card payments, similar to the existing functionality for withdrawals, deposits, transfers and journal entries. Users can ensure timely payments without manual intervention by automating recurring credit card expenses.
Step-by-Step Guide:
Step 1: Navigate to the Register Page
Go to the Banking section within your accounting module.
Select the Register page from the side navigation.
Step 2: Select the Credit Card Account
In the Account dropdown, choose the Credit Card account for which you want to set up the repeating payment.
Step 3: Add a Debit Transaction
Click the Add Transaction button at the top right of the Register.
From the dropdown menu, select Add Debit.
Step 4: Activate the Repeating Payment Option
On the debit entry screen, locate the Repeating toggle switch.
Switch the toggle to "on" to enable repeating payments.
Step 5: Configure the Repeating Payment
Repeat Frequency: The system will set the repeat frequency to Monthly (currently non-editable).
End Date: Optionally, you can set an end date for the debit. If no end date is set, the debit will continue indefinitely.
The system will validate that the end date is after the transaction date to ensure future payments.
Step 6: Save the Repeating Payment
Once you have configured the debit details and repeating options, click Save.
Step 7: Manage Repeating Payments
After setting up a repeating credit card payment, it will appear on the Repeating Page.
You can edit, stop, or monitor the status of the recurring payments from these locations.