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Clint3PF's avatar
Clint3PF
User
3 years ago
Solved

Recurring Invoice payment terms differs to Customer Card terms

How does the payment terms on recurring transactions work?

 

When we update the terms on the Card it doesan't automatically reflect that change on the recurring transaction.   If we have a number of changes to customer terms, how do we go about ensuring the changes are reflected across all the individual recurring purchase orders and invoices if it's not automatically updated?

 

Also, is it possible to run a report that shows the terms on each recurring transaction and each card so that we can reconcile the differences between the two sources?   

  • Steven_M's avatar
    Steven_M
    3 years ago

    Hi Clint3PF 

     

    Normally, when you update the default terms of a customer card any new transactions that you do record for that customer will use those new terms. 

    With recurring transactions, you are basically generating a draft copy of the transaction that will be generated over and over again. This "draft" will use the customer terms that were set at the time of setting up that recurring transaction and would not update the terms to be the new terms as they are set with that draft.

     

    If you are needing to update those terms for future recurring transactions it would be a matter of navigating to Lists>>Recurring Transactions>>Opening the transaction and updating the required Terms. Note: This is a manual process.

     

    In regards to reporting on recurring transactions, as these are not transactions (until they have been recorded) the options are limited. However, there is a Recurring Transaction List report - available via Reports>>Sales (or Purchases or Accounts or Banking)>>Recurring transactions>>Recurring Transaction List. This report does list the name of the recurring transaction, type, frequency... information relating to the recurring transaction. It will not list the terms of each individual recurring transaction.

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  • Steven_M's avatar
    Steven_M
    Former Staff
    3 years ago

    Hi Clint3PF 

     

    Normally, when you update the default terms of a customer card any new transactions that you do record for that customer will use those new terms. 

    With recurring transactions, you are basically generating a draft copy of the transaction that will be generated over and over again. This "draft" will use the customer terms that were set at the time of setting up that recurring transaction and would not update the terms to be the new terms as they are set with that draft.

     

    If you are needing to update those terms for future recurring transactions it would be a matter of navigating to Lists>>Recurring Transactions>>Opening the transaction and updating the required Terms. Note: This is a manual process.

     

    In regards to reporting on recurring transactions, as these are not transactions (until they have been recorded) the options are limited. However, there is a Recurring Transaction List report - available via Reports>>Sales (or Purchases or Accounts or Banking)>>Recurring transactions>>Recurring Transaction List. This report does list the name of the recurring transaction, type, frequency... information relating to the recurring transaction. It will not list the terms of each individual recurring transaction.