Setup: Recurring transactions in MYOB Essentials

Or even to be able to save an existing invoice as a template.

Is there an estimated date for implementing recurring invoicing? As this feature would really enhance your product.

This would make life so much easier :smileyhappy:

This would be a great if  transactions could be set up as recurring. It would also help with  running payable reports and budgeting.

Definately - being able to produce a recurring invoice would save a lot of time - Accountright Standard has this and is used each month

Hi,

There have been a number of enhancement requests for recurring transactions for LiveAccounts so I thought I clarify, give you a quick update and maybe glean some information from you.

We currently have recurring invoices /expenses and copy on the roadmap and it is my expectation that these will be done and deployed 1^st half 2012 (late). We have some great banking improvements, NZ Payroll that we are working on and will be tackling improving / adding new features to invoices after that.  

In regards to recurring bank transactions, this is something I probably should clarify my thoughts and if I have this wrong, can you pls pipe up and provide me with more feedback so I can better understand the issue.

LiveAccounts’ strength is in the use of bank data (whether it comes automatically or manually imported from online banking). However the bank data comes into the business, LiveAccounts’ power takes over and tries to match invoices / expenses / spend / receive money etc and also apply rules created by the user to these transactions.

For example, let’s say I have a monthly payment of rent paid to “Puffey Realestate”. Within LiveAccounts, I would create a rule (Remember Me) for this text and moving forwards, when LiveAccounts encounters “Puffey Realestate” it will automatically assign the “Rent” account and create the backend spend money transaction. The user of LiveAccounts does nothing for this recurring transaction. It is created and allocated by LiveAccounts.

You have several options when creating a rule; Below is the Create an Allocation Rule screen

You can also split your transactions so if the amount belongs in multiple accounts, this can also be done.

This approach means all the user has to do is review the recurring transaction from within the banking screen. No need to manually create a  Spend / Receive Money transaction and no matching is required. It’s done. 

I hope this makes sense and for those wanting recurring banking transactions, I hope this approach means you have less accounting work to do using LiveAccounts! If not and I have got it wrong, please PM (Private Message) me with more details about how you are using LiveAccounts and why you need recurring bank transactions. 

Thanks

Hmmmm... it appears nobody has answered your question re 'recurring transactions'  :-((

I would have thought that recurring transactions would have been a high priority for any online accounting package.

Yeah, like when MYOB bills me every month for this half-baked product !

Hi,

We are looking into developing recurring invoices at some stage in the first half this year.

For recurring Banking transactions, could you please provide more info as to your requirements? At the moment you can set up rules under "Manage allocation rules' on the Banking page

Cheers, 

I raised this several months ago and still no function for recurring transactions - how hard can it be?

Yes, agreed.

Definately +1

Cheers,

Pete.

Hi,

I am a new user - this functionality would be very useful. Is there any plans to implement it?