Expenses such as rent, catering service or quarterly subscription fees for a software service, are paid periodically. Bills for these expenses can be marked as recurring.
When a bill is marked as a recurring:
- Airbase will create a new bill for the Vendor on a recurring basis.
- The Vendor details, GL information and list of Approvers will remain the same as the original bill.
- Payment will not be automatically initiated for the bill.
This will save the Accounting team the time it takes to manually create bills for recurring bill payments.
Setup Recurring Bill Payment.
To mark a bill as recurring:
- Create a bill and fill in the details.
- Check Mark as recurring.
- Fill in the following fields:
- Frequency: Mention how frequently you pay the Vendor.
- Next Invoice Date: The field is auto-filled based on the Invoice Date and Frequency.
- Create on: Number of days before Payment Due date the bill should be created. Choose a date that gives the approvers enough time to approve the bill.
- Next Creation date: The field is auto-filled based on the Next Invoice Date and Create on fields.
- No End Date: Uncheck this box if you have a limited period contract with the Vendor. Add the end date of the contract in Ends on field.
- Click Create a Bill when all the information is in.
All the recurring bills can be found on the Bill Payments > Bills > Recurring page.
Stop Recurring Bill Payment.
If you no longer pay the Vendor on a recurring basis or you want Airbase to stop creating bills on a recurring basis:
- Go to Bill Payments > Bills > Recurring.
- Locate the bill.
- Click Archive at the bottom of the screen.
This will stop Airbase from creating any more recurring bills.