If you have regular transactions for the same amount, an easy way to manage them is to set up Recurring Transactions in Pandle. For example, you may want to invoice the same customer £100 per month. By managing this through Recurring Transactions, 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 Tools > Recurring Transactions (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 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.
- Once you select the transaction type you want to recur, you can enter the details and click 'Save and recur'
- You will then be asked for the recurring transaction details such as start date and frequency
- If it's a customer invoice you are recurring you will have the option to set up the email details to send it automatically each time it recurs.
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.