Set up recurring bank transactions to record repeated fixed income or expenses. For example, bank loan payments, rent payments, recurring bank transfers, and donations.
1. From the Minfos Launch Pad click the Cash Manager icon.
2. Click the Maintenance menu and select 4. Automatic Transactions.
The Auto Transaction Maintenance window is displayed.
3. Click Add.
The Automatic Transaction Entry window is displayed.The default Bank Account is 0601.00.000.
a. To change the Bank Account either:
i. Enter the desired Bank Account Account No. then press [Tab].
ii. Or, Enter part of the Bank Account Description and press [Tab]. The General Ledger Search window is displayed. Select the required account and click Okay.
The selected Bank Account is displayed in the Automatic Transaction Entry window.
Note To permanently change the default Bank Account please refer to Change default Bank G.L. Account. To add a new Bank Account to the Chart of Accounts please refer to Add Bank G.L. Account in Chart of Accounts.
b. In the Auto Code field enter a 4 character code that is specific to the transaction. For example, NABL for NAB Bank Loan.
c. Enter a name for the transaction in the Description field.
d. From the drop-down menu select Payment if the transaction is an expense, or Receipt if the transaction is income.
e. The Date Last Run defaults to today's date. Change this date if required.
f. Select how often the transaction will reoccur in the Period drop-down:
- 1. Monthly
- 2. 4 Weekly
- 3. 3 Weekly
- 4. Fortnightly
- 5. Weekly
g. Check Run to activate the transaction.
h. If the Period selected is Monthly, enter the Day of the Month the transaction reoccurs on.
4. Click Add.
The General Ledger Account Entry window is displayed.
a. In the Account Number field:
i. enter the General Ledger Account Number and then press [Tab].
ii. Or, enter part of the General Ledger Account Description and press [Tab]. The General Ledger Search Window is displayed. Select the required account and click Okay.
The Account Name field is populated with the name of the selected account.
b. Enter the Total (Inc GST) amount for the transaction.
c. Uncheck Calc GST if the transaction is GST free.
The GST and Total Ex. GST fields are automatically calculated.
d. Click Okay to save.
e. Click Cancel [Esc] to close the General Ledger Account Entry window.
The transaction details are displayed in the Automatic Transaction Entry window.
5. Click Okay to save and exit the Automatic Transaction Entry window.
6. Click Cancel [Esc] to close the Automatic Transaction Entry window.
Please refer to Process recurring automatic transactions to process the transaction/s and calculate the current Cash Net Position.