Setting up Recurring Invoice in R12
To define a Recurring Invoice, first create Special Calendar. This Calendar is used to determine the periods for which the invoices to be generated.
Navigate: Setup à Calendar à Special Calendar
Setup a special calendar for the recurring expenses for which you need to automate in this form:
- Name of the Special Calendar
- Enter No. Of periods (Normally in general the recurring invoice starts anywhere in a year so one can define number of periods based on the remaining periods in that year)
- Set Period Details
- Save & Exit
Optionally a Distribution can be setup to ease the data entry for the user
Navigate: Setup à Invoice à Distribution Sets
- Distribution Name
- Details of how you want to distribute the expense
- Save & Exit
With Calendar and Distribution sets ready,
Navigate: Invoices à Entry à Recurring Invoices
- Operating Unit (If one it will default, if you have multiple operating units and access, select the correct operating unit)
- Name of the Recurring Invoice
- Select Supplier either through Number or Name
- Select the Calendar that you created as in the above setup
- Number of Periods
- Give the First Period for which you want this recurring invoice to start
- System will automatically pick the next period and Give the remaining periods
- Go to “Invoice Definition” Tab & Give Invoice Number (It can be Alfa-Numeric)
- Go To “Line Definition” Tab to Select the Distribution Set you Created as in above setup
- Switch to “Control” Tab to set the approval flow for the invoice
- Switch to “Amount” tab and enter the invoice amount. This will be the invoice amount for the invoice that is getting generated. Also enter the Control Amount. For example if you are paying Rent for 6 Months from now and per month Rent Amount is 10000, then in the “First Amount” field give 10000 and in the “Control Total” field enter 60000.
- Since the no of periods for this setup will be six, and for the first invoice we have already given the amount, the system will now equally prorate the remaining amount of 50000 into five invoices Ten Thousands Each.
- Once saved, the system will prompt to enter the First Period for which the invoice to be raised and the amount for the invoice.
- Give the number of invoices to be generated.
- One can either for the whole period. In our example it is 4 or
- Can give only the number of invoices which needs to be generated. This can be anything below the mentioned periods. In our example it can be 1 or 2 or 3.
- After giving period, click on “Create Recurring Invoices” and you will find a screen as below:
Go to Invoices screen and query with the invoice number that got generated as above in the screen.
You will notice that the distribution is also created automatically as we have setup a special distribution set for this recurring invoice.
Validate, Force or Initiate Approval as the Business requires and Create Accounting. In our example, it is force approval and Draft Accounting Entries.