The following steps are included in the process:
- Set up the recurring invoice schedule definition. See Set up an invoice schedule.
- Specify the contra accounting for the schedule. See Define invoice schedule contra accounting.
- Create the recurring invoices according to the schedule definition. The invoices are automatically generated by the system, but you start the generation manually. You can create exceptions to individual invoices by changing the details on invoice level. See Generate recurring invoices.
- The contra accounting specified for the schedule in step 2 is automatically applied to each generated recurring invoice. You can create exceptions to individual invoices by changing the contra accounting on invoice level. See Change a recurring invoice and its contra accounting.
- You can make changes to the schedule and to the recurring invoices. Differences in maintenance possibilities exist depending on the recurring invoice’s current state. See Different states of a recurring invoice for more information.
- If changes are made to the schedule and the recurring invoices are available for processing, these will be automatically regenerated according to the schedule’s new definition. If any manual changes have been made on invoice level, then you will be prompted before the invoices are regenerated. See Change a schedule and regenerate recurring invoices.
- When an invoice is due for payment, select the Enter financial transactions menu item to retrieve a list of all recurring invoices that are available for invoicing. Only recurring invoices where the invoice period is earlier or the same as the selected accounting period will be listed. See Create a final A/P invoice from a recurring invoice.