In my exercise I am supposed to create recurring receipts in sage. I think I need to understand better what recurring receipts are. Probably somebody is paying us on regular basis and those payments are our income because receipts should be understood as money paid in as far as I remember but I could be wrong. On the other hand in line 3 it is said : Process the first payment for each one. - payment usually relates to money paid out so I am confused now. According to my exercise, is money paid out of my bank current account or is money paid in to my current bank account ?
I think there is printing error again here. In instruction it should be said : You need to set these up as recurring payments. Unfortunately instead of payments it says ' receipts' . Rent and rates are both payments out of bank account .
-- Edited by rafapak on Tuesday 21st of March 2017 02:44:00 AM
Yes - though when entering recurring transactions in Sage using the 'Recurring items' window (unless it's changed in more recent versions) in most cases you don't need to think in terms of debits and credits; you tell it what type of transaction it is, and if it's a receipt (or a payment) you tell it what bank account is to be used, and the nominal account for the transaction, as well as the VAT details etc.
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Vince M Hudd - Soft Rock Software
(I only came here looking for fellow apiarists...)
