A recurring cash item is money that moves on regular dates with no invoice, bill or cheque behind it. Examples are payroll, rent, a loan instalment, a subscription and a tax payment. You record it once, and the forecast counts it on each of its dates.
A recurring item is a plan, and it moves no money. It never reaches the cash ledger, and it never changes a balance. Beelocity never records its payment for you. When the money really moves, you record that payment yourself, as you record any other. Then you mark the item’s date settled, as this page explains below.
Only the Treasurer and the owner of your organization can add, change, settle, pause or delete a recurring item. The Cashier can read the items, and cannot change them.
Opening Recurring Cash Items
Open Treasury → Cash forecast in the sidebar, and then its Recurring Cash Items tab. Each row is one item, with its Label, Direction, Amount, Frequency, Next date, Account and Active. The list opens on the soonest next date.
The filter button beside the search box narrows the list by any of those columns, and by Currency (Working with lists).
When you open Treasury, its list Recurring items due shows the active items that fall due today or in the next three days.
Adding a recurring item
Press New, then fill in the form. It has four parts.
Identification
- Label is a short name that you recognise, such as Monthly payroll or Office rent. Two active items cannot share a label. When you pause an item, its label is free for another one.
The movement
- Direction: choose Inflow for money that you expect to receive, and Outflow for money that you expect to pay. The form opens on Outflow.
- Amount is the money that moves each time, as a number above zero, for example 750,000 DA. The Direction says whether it raises or lowers the projected balance.
- Currency is the currency of the amount, and it opens on your base currency. If you pick an account below, the item takes that account’s currency, and you cannot change it.
- Frequency is how often the money moves: Weekly, Monthly, Quarterly or Annual. The form opens on Monthly.
- Next date is the next day that the money is due, and it opens on today. The forecast counts every later date from it.
Where it belongs
- Treasury account is the account that the money moves through. If you pick one, the forecast for that account counts the item too. If you leave Whole organization, only the forecast for All accounts counts it.
- SCF account code is a code that you note on the item for your own use, such as
64. SCF is the Algerian accounting standard, and its chart gives each account a number. Beelocity keeps the code, and no figure or report reads it.
Settings
- Active is on for a new item. The forecast counts the item only while this switch is on.
Then press Save.
When the money has moved, record the real payment first. Then open the item and press Mark occurrence settled. Beelocity moves the Next date on to the following date, so that the forecast does not count that money twice. A message gives the new date. The button records no payment itself.
The button settles the first date on or after today. That is the Next date, unless the Next date has passed. If you pay after a date has passed, the forecast has already left that date out. Do not press the button then, because it would settle the following date instead.
An item on the 29th, 30th or 31st falls on the last day of a shorter month. Mark occurrence settled can move such an item to an earlier day for good. Take a monthly payroll on 31 January:
- Before you settle it, the forecast counts 31 January, 28 February and 31 March.
- When you settle 31 January, the Next date becomes 28 February, which is right. The forecast now counts every later date from the 28th, so it counts 28 March.
- When you settle 28 February, the Next date becomes 28 March. Press Edit, set the Next date to 31 March, and press Save.
Check the Next date each time you settle an item on one of these days. A 30-day month moves an item on the 31st to the 30th in the same way.
To leave an item out of the forecast and keep it, open it and press Pause. Resume brings it back. You can also switch off Active in the form. Beelocity sends no reminder for a paused item. If you delete an item, it leaves the forecast, and no entry in the cash ledger changes.
Beelocity sends a reminder each day for the active items that have a date today or in the next three days. It goes to the inbox of the Treasurer and the owner of your organization. The reminder asks them to record the movement and then mark the date settled. A date that has passed brings no reminder, because the forecast has moved on to the next one.
How they feed the forecast
The forecast counts only active items. It counts each item on every date in the horizon, from the Next date on. It converts the amount into your base currency at today’s rate. Each date then lands in its window, so a monthly payroll of 750,000 DA shows as money out in each month of the horizon.
If the Next date has passed, the forecast does not count that date as past due. It counts the item from its first date that has not passed yet.
An item with a treasury account counts in that account’s forecast, and in the forecast for All accounts. An item for the Whole organization counts in the forecast for All accounts only.