What Are Recurring Transactions and How Do I Add One?

What is a recurring transaction? Recurring Transactions are typically used for any transactions that may regularly occur on the same day of the month, whether it be a regular donor or a monthly expense.

How do I add a recurring transaction?

Under the Accounting tab, select Recurring Transactions. On the resulting screen you’ll see any existing transactions already designated as recurring transactions.

To add a new recurring transaction, click the Add Recurring Transaction button at the bottom of the screen. A new window will appear and will display as any standard transaction add does in ISP. Complete the needed and applicable details of the transaction and click Add Recurring Transaction.

Once added, the transaction will then appear on the main Recurring Transactions screen with any of the following details that were added during the process.

Transaction Type: This will tell you what transaction type the recurring transaction it is, whether it’s an Expense or Monetary Contribution or any other type selected when it was created. Click the type to make any edits to the transaction.

Next Date: This is the next date the recurring transaction will process and appear as such in your database.

Name: This is the entity’s name where the recurring transaction lives.

Number: If you added a number, such as a check number, it will display here.

Budget Category: Any Budget Category you chose for this transaction will show here.

Internal Note: If you added an Internal Note to the recurring transaction, it will show in this column.

Election: This is the Election chosen when the recurring transaction was created.

Amount: This will display the amount of the recurring transaction, as well as the abbreviation of the Financial Account it is associated with.

To the right of the Amount column are two other icons.

Message: If you hover your mouse over this icon, it will display all notes, such as Compliance, Check, and Internal Notes, as well as the Reporting Code used.

Info: Hover over this with your mouse to show if the transaction has been cleared via Reconciliation, as well as who created it and/or edited it, if applicable.

Recurring transactions will not be entered when your account is dormant. However, due to timing issues, a transaction set to be added within approximately 24 hours of an account going dormant may still get added. Be sure to review all Recurring transactions prior to the account going Dormant.

If you’d like to change something about all of your recurring transactions at once, click the Bulk Update button at the bottom of the page. This allows you to change the election or financial account associated with them.