If you have regular transactions for the same amount then you can set up Recurring Transactions in Pandle to save you time. For example, you may want to invoice the same customer £100 per month. By setting this up in Pandle, this invoice will be created (and can also be sent) automatically each month so you don't have to keep creating it.
How to add a recurring transaction
- To add a recurring transaction, go to Categories > New > Add Recurring Transaction (as below).
- You will then be presented with a list of all previously created recurring transactions. Click the green 'Add New Recurring Transaction' button to get started
- Enter the start date (this cannot be in the past)
- Enter the transaction type. The different types of transactions available are:
Customer Invoice: If you bill customers the same amount on a regular basis then this transaction type can be used to automatically create (and send) the invoice each week, month or however often you wish.
Supplier Invoice: You may have a supplier that bills you the same amount on a regular basis. Instead of entering the Supplier Invoice each week/month you can use this to automatically add future invoices in Pandle.
Adjustment: Adjustments can be used to adjust your category balances. This can be useful for things like regular depreciation adjustments (instead of just at the end of the financial year). A bookkeeper or accountant would usually make these kinds of adjustments.
Wages Adjustment: For set salaries which are the same every week/month, such as a small director's salary, Recurring Wage Adjustments can be used. Simply enter the recurring amount and Pandle will take care of all future adjustments.
- Enter the frequency of your recurring transaction. You can choose a number and then a frequency such as days, weeks, months or years. For example, you can repeat the transaction every two days or every one month.
- Simply click 'Save Recurring Transaction' and you will then we asked to enter the transaction details. If you selected customer invoice you will fill in the invoice details and amount. If it's an adjustment then you will enter the figures which are to recur.
You can pause or edit your recurring transactions at any time, so if the amounts change or you want to stop the transaction then it's no problem.