Standing Transaction Maintenance

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Use this form to enter details of transactions entered on a regular or periodic basis, such as regular accrual journals. If you are not using the Accounts Payable or Accounts Receivable modules, use this form to set up repeating payments and receipts, such as rent received, hire purchase payments, wages, and the like. You can enter an unlimited number of lines for each standing transaction.

When you've created standing transactions, you can apply the GL Update Standing Transactions process to generate the transactions automatically. This process applies any tax changes to the generated transactions and update the standing transaction to reflect these.

Type

Select the type of transaction you are entering, from one of:

• GL Payment
• GL Receipt
• GL Journal

In addition to standard detail required to set up each relevant transaction type, this information is required to support standing transactions:

Frequency type

Select the frequency type for the transaction to calculate the Next action date for the transaction:

• Day
• Last day of month
• Last day of period
• Month
• Week
• Year

Frequency

Select the frequency for the transaction. This is used with the Frequency type to calculate the next action date for the transaction. For example, if the Frequency type is Week and the Frequency is 2, then the system expects this transaction to be processed once every two weeks.

If the transaction is created on 15/09/18, Greentree will increment the Next Action Date for this standing transaction to 29/09/18, and make it available for selection on or after that date next time you access the General Ledger Update Standing Transactions form.

Update details

Select Fixed to indicate that the value of the transaction remains fixed each time the transaction updates. Select Variable to indicate that the value of the transaction may change each time it is updated.

Select this option to adjust the value of the standing transaction before creating it using the General Ledger Update Standing Transactions process. This includes any changes to tax rates.

Start/End dates

These dates default to today's date but can be overridden to any dates beyond today. Standing transactions will be selected for inclusion in the General Ledger Update Standing Transactions process if the current date is between the Start date and the End date specified for the transaction.

Next action date

This date is calculated using the Start date, Frequency, and Frequency type. You can change the date. If the next action date for a standing transaction is equal to, or before the current date, the transaction is available for inclusion using the GL Update Standing Transactions process.

You can copy a standing transaction by clicking the Copy icon on the toolbar. This clears the header detail, leaving only default information, and retains the line detail of the transaction selected when you copied it or the line detail of the transaction selected when you copied it.

• GL Journal Entry

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