Introduction
Recurring transactions can save you time by automating entries that happen on a regular basis, such as monthly bills or subscription payments. In this guide, we'll walk you through how to set up recurring transactions in Bukku, so they are automatically recorded without the need for manual input each time.
Let's see how you can automate recurring transactions by setting up a recurring instruction!
How to Create a Recurring Instruction
Step 1: Navigate to Control Panel > Recurring Instructions > +New.
Step 2: Enter the recurrence details.
Name | Enter the name for the recurring instruction. |
Transaction | Choose the type of transaction, such as Invoice, Bill, Money In, Money Out, Transfer, or Journal Entry. |
Create As | Set the transaction status as Draft, Pending Approval, or Ready. |
Send Email | Enable this option to automatically send the transaction to the customer (for invoices only). |
Start Date | Specify the date when transactions will begin according to the scheduled frequency. |
End Date | Optionally, set an end date for the recurring transaction or leave it blank for no end date. |
Step 3: Set the frequency and schedule.
Example:
You want the system to generate invoices on a quarterly basis (every 3 months), starting in September 2024. The invoice date should be the 20th of each quarter, but you want the system to generate invoices 5 days earlier. Once generated, two batches of invoices will be created.
You can also preview when your recurring instructions will run.
Settings & Explanation | Inputs | Outcomes |
Frequency
| Every 3 Month
| The system will generate transactions quarterly. Will generate on:
|
Day
| 20th
| The invoice date will always be on the 20th of the scheduled months.
20th June
|
Post Dating
| 5 days before
| The system will generate the invoice 5 days before the invoice date.
System will generate on: 15th June
|
Batch Processing
| 2 times
| The system will generate two invoices at once.
|
Step 4: Enter the transaction details as usual.
Step 5: Click "Save" to complete the setup. You can then view the recurring instruction in the list, including details such as the next generated date. You can also customize the columns on this page after click "Select Columns".
Notifications and Transaction History
Once the system generates the recurring transaction as instructed, you'll receive a notification like this:
You can click on the notification to directly access the transaction.
In the transaction details, you'll see that it was created by 'Instruction' in the Channel column under the transaction history.
Usage of Placeholder and Modifier
Placeholders used in the description and remarks fields will be automatically replaced with the transaction date.
Modifiers can be added to placeholders to adjust the dates, such as [DAY+2] for two days after the transaction date or [MONTH+3] for three months later.
For example, with a transaction date of 5th January 2024, let’s see the results for each placeholder and modifier.
[DATE] : 05/01/2024
[DAY] : 05
[MM] : 01
[MMM] : Jan
[MONTH] : January
[YEAR] : 2024
[DAY-3] : 02
[MONTH+1] : February
[YEAR+2] : 2026
Let’s see a clearer picture. For example, if your next invoice date is 5th January 2024, and you want the description to show 15th January 2024. Use the following modifiers and placeholders in the recurring instruction:
The result of the generated invoice will look like this:
Frequently Asked Questions (FAQ)
Can I create a single recurring transaction for multiple contacts if the transaction details are the same for all?
You can group your contacts to simplify the creation of recurring instructions. Instead of setting up recurring instructions for each contact individually, you can select a contact group. The system will automatically generate invoices for all contacts within that group, saving your time.
To group your contacts, go to Contacts and click Group next to the +New button.
Note: This feature is available in both Growth and Premium plans, but contact group feature is only available in the Premium Plan. Growth Plan users need to set up recurring instructions for each contact individually, even if the transaction details are the same.
How do I delete a recurring instruction? What if I want to keep it in the list even after it has ended?
To delete a recurring instruction, click the three dots (…) next to View to delete.
If you want to keep it as a record, you can just set an end date for that instruction, and it will remain on the list as ended.
Can I create a recurring instruction from an existing transaction?
You can also create a recurring instruction directly from an existing transaction.
Instead of re-entering the transaction details, simply click the three dots next to the View button and select Create Recurring.
Can I create a recurring instruction and set it to start on the same day?
Yes, you can create a recurring instruction and set the start date to today.
For instance, if today is 11/10/2024 and you want the first occurrence to begin today, you can expect to received this message and transaction will be created immediately.
