RIMAS NT/P Software Installation

To: All Users of RIMAS NT/P for Windows

From: The SHARED LOGIC Group, Inc.

Re: Setting up Recurring Transactions in A/P

Date: March 28, 2000

Accounts Payable Recurring Transaction Entry is for entering transactions that occur frequently. Using this program eliminates having to recreate the transaction each time. By setting the Total Amount, Total Count and Transaction Amount for an account, RIMAS NT/P knows how many transactions were originally input and decreases the count and amount every time a transaction is made.

The Total Amount is generally split evenly among the number of transactions over the amount of time, while the Used Count and Used Amount fields indicate how many times a recurring transaction has been made and how much money has been expended.

Transactions will continue to generate based upon the Expire date, Total Amount and Total Count. If an Expire date is not entered, then the transaction will generate infinitely. The Transaction Amount is the amount that will recur each time. The Transaction Type default will be CI for Credit Invoice.

There is a Frequency field that is used as a filter to group accounts that have transactions that recur at the same time and to indicate how often an A/P Recurring transaction is posted. Some of the filters that could be used are 'W' for Weekly or 'M' for Monthly. The user could then print a register or merge transactions using this frequency as a filter.

Example: If a recurring transaction is to be setup for six months and the Total Amount is $12,000, then the Transaction Amount each time will be $2,000. Total Count will be '6'.

The A/P Merge Recurring Transactions program takes all recurring transactions and creates a transaction entry in A/P that makes them available for payment using the transaction date and transaction period. As each transaction is merged control numbers will flash by in the Processing window.