How to use Recurring Transactions

Overview: 

The Recurring Transaction Module in QNE Software allows users to automate the creation of
frequently used transactions, reducing manual effort and ensuring accuracy in financial records. This
feature is especially useful for transactions that occur regularly, such as rent payments, subscription
invoices, or utility bills.

Scenario:

A business needs to record monthly rent payments automatically. Instead of manually entering the
transaction each month, the user can set up a recurring transaction to post automatically on a
specified date.

Solution:

To set up a recurring transaction in QNE Software, follow these steps:

1. Open the transaction you want to make recurring (e.g., Sales Invoice, Purchase Invoice, or Expense).

2. Click the 3-dot menu and select Make Recurring Transaction.
   
   

3. In the pop-up window, configure the recurring transaction settings:
   
   

• Template Name – Assign a name to the recurring transaction.

• Document Type – Automatically filled based on the selected transaction.

• Recurrence Type – Choose from:

  • Scheduled – Automatically posts the transaction based on the selected recurring date.

  • Unscheduled – Creates a template for manual use when needed.

  • Reminder – Notifies the user that the transaction is due.

• Interval – Select how often the transaction recurs:

  • Daily

  • Weekly

  • Monthly

  • Yearly

• Start Date – Set the first occurrence date.

• End Date – Define when the recurrence should stop.

• Create a Transaction in Advance – Specify how many days before the due date the system
  should generate the transaction.

• Number of Days to Remind Before Next Run – Define how many days in advance the
  system should notify the user before the transaction occurs.

4. Click Save Template to finalize the recurring transaction setup.

To view all recurring transactions:

1. Go to Advanced Options > Automation tab.
   
   

2. Click Recurring Transactions and then click the List button to view all active recurring
   transactions.
   
   

3. Under the Recurring Transaction List, you may Edit the recurring setup or Use the template
   even if it is not yet scheduled.
   
   

Application:

A company pays a software subscription fee of $100 every month. Instead of manually creating the
expense record, the finance team sets up a recurring transaction with the following details:

• Template Name: Software Subscription

• Document Type: Expense

• Recurrence Type: Scheduled

• Interval: Monthly

• Start Date: April 1, 2025

• End Date: December 31, 2025

• Create a Transaction in Advance: 3 days before the due date

• Number of Days to Remind Before Next Run: 2 days before posting

With this setup, the system automatically generates the expense transaction each month, reducing
administrative workload and ensuring timely expense tracking.

By using the Recurring Transaction Module, businesses can streamline financial operations, improve
accuracy, and save time on repetitive data entry.