Introduction/Purpose:

Recurring cash payments refer to scheduled, repetitive outgoing cash transactions that occur at regular intervals—such as weekly, monthly, or quarterly. These payments are typically made to vendors, service providers, employees, or other stakeholders for items like rent, maintenance fees, utility bills, or installment-based expense settlements handled in cash.

In Rockeye ERP, the Recurring Cash Payment functionality empowers users to define, manage, and automate recurring cash disbursements. By configuring templates with predefined parameters—such as vendor, payment amount, frequency, and cash account—users can eliminate the need for repeated manual entry of routine payments.

This feature promotes financial discipline, ensures timely settlement of obligations, enhances expense tracking accuracy, and reduces the risk of missed or duplicated payments. Additionally, it streamlines the accounts payable process, optimizes cash management and streamlines accounting processes and supports better financial control.

Dependency: 

To effectively configure and manage recurring cash payments in Rockeye ERP, the following components must be in place:

• Vendor Master Data: Vendor records must be accurately maintained in the system, including vendor codes and essential identification details, to correctly associate each cash payment with the appropriate vendor account.
• Cash Account Setup: The disbursing cash account must be predefined and active in the system to ensure accurate allocation of outgoing cash during recurring payment transactions.
• Defined Payment Templates: Users must create standardized recurring cash payment templates with key parameters—such as payment frequency (e.g., monthly), fixed amount, start and end dates, and relevant expense or liability accounts—to automate the generation of recurring entries.
• Posting Periods Open: The accounting periods corresponding to the scheduled payment dates must be open to allow for the successful posting of recurring cash payments.
• Authorization and Approval: Where approval workflows are implemented, users must have the appropriate roles, permissions, and approval rights configured to create, activate, and manage recurring cash payment schedules securely and in compliance with internal controls.

How to Navigate to Recurring Cash Payments

The navigation to the recurring cash payments typically involves the following steps:

• Go to the Transactions Tab: From the main side menu, click on the Transactions tab to access financial transaction options.

• Click on Cash Payments: Under the Cash Voucher section, select Cash Payments to open the receipt listing window.

• Click on the More Options Icon at the top right and navigate to “Go to Schedule”

Recurring Cash Payment Listing

The Recurring Cash Payment Listing is a feature that displays all predefined recurring cash payment entries configured in the financial system.

It offers a centralized view of scheduled outgoing cash transactions, enabling users to efficiently track, manage, and update recurring cash payment setups for different vendors.

• Schedule Number: A system-generated unique ID that identifies and tracks each recurring cash payment schedule.
• Related Base Cash Payment Voucher: Refers to the original one-time cash payment voucher used as a template for generating the recurring payment entries. It serves as the basis for replicating payment details across the schedule.
• Type of Execution: Defines whether the payment is automatically generated by the system (Auto Submit) or requires user action to post each time (Manual Submit).
• Cash Account Name: Specifies the cash account where the recurring payments will be disbursed.
• Vendor Name: Identifies the vendor or recipient associated with the recurring outgoing payment. This links the payment schedule to the appropriate payee account
• Start and End Date of the Schedule: Defines the active duration of the recurring payment schedule, indicating when the first and last payments should be executed.
• Voucher Amount: The fixed amount to be paid at each scheduled interval, based on the predefined parameters of the recurring payment template.
• Currency: Specifies the currency in which each recurring cash payment will be made.
• Total Vouchers / No. of Vouchers Created: Displays how many payment vouchers have already been generated and compares this to the total number of payments expected throughout the schedule.
• Total Amount / Targeted Amount: Shows the cumulative value of payments already made versus the total projected amount across the full recurring schedule.

Available Actions:

User can perform the following actions:

• Show all listing records: The “Show all listing” function is to display and update a list or collection of recurring cash payments within a system or interface.
• Clear cache: The “Clear cache” refers to the process of deleting temporary files, data, or stored information that is stored in a cache.
• Export: The “Export” is for exporting the list of scheduled recurring payments in various formats; Excel, CSV, PDF for reporting, analysis, or backup purposes.
• Change view: The “Change View” allows the user to switch between table view or list view formats for displaying schedule listings based on preference or usability needs.
• Advanced Search: The “Advanced Search” function allows the user to look for a specific entry within the available data and presents the results that match the search parameters.
• Quick search: The ”Quick Search” function allows users to quickly search and locate specific scheduled cash payments within the system.

Recording & Update:

Creating A Recurring Cash Payment:

• Schedule Type: Defines the frequency at which the recurring cash payment is executed. Example: Monthly – Executes once every calendar month, Quarterly – Executes once every three months, Every 2 Weeks – Executes biweekly from the start date.

• Start Date: The initial date from which the recurring schedule becomes active and the first cash payment is expected to be generated.
• End Date: The last valid date for the recurring schedule. No cash payments will be created after this date.
• Exchange Rate Selection: Specifies how the exchange rate is applied when generating payments for foreign currency transactions.

• Latest Exchange Rate – Applies the most recent exchange rate available in the system at the time of voucher generation.
• Current Voucher Exchange Rate – Uses the exchange rate that was set on the original base cash payment.
• Select While Edit/Authorize – Prompts the user to manually input or confirm the exchange rate during the review or authorization stage of the recurring transaction.
• Submit Method: Determines how the scheduled recurring payments are processed:

• Auto Submit: The system automatically generates the cash payment on the scheduled dates without user intervention.
• Manual Submit: Requires the user to manually initiate the creation of the cash payment based on the schedule.
• Remove Schedule:Removes the recurring schedule and stops future voucher generation.

View Recurring Cash Payment Schedule:

Left Panel: All Scheduled Voucher

• Voucher No.: Reference number for each individual voucher. These are clickable links to view voucher details.
• Scheduled Date: The date on which the system expects to process or submit the recurring cash payment.
• Executed Date: Actual date on which the payment was executed (blank means not yet processed).
• Approval Status: Shows whether the voucher has been approved or is pending.
• Status: Indicates the current processing status of each voucher. This helps track progress for execution of the recurring payments.

Right Panel: Schedule Details

• Schedule Code: Unique identifier for the recurring schedule.
• Schedule Type: Frequency of recurrence.
• Submit Method: Specifies whether vouchers are submitted manually or automatically. 
• Start Date: Beginning date of the recurring schedule.
• End Date: Final date for the schedule. No payments will be generated beyond this date.
• Base Voucher No.: The original voucher used as a template for generating future recurring entries.
• Voucher Currency: The currency used for the voucher.
• Voucher Amount: Amount of each scheduled payment.
• Targeted Amount: Total amount expected to be disbursed over the schedule period.
• Created Amount: Amount already generated through processed vouchers.
• Total Targeted Vouchers: Expected number of vouchers to be created.
• Total Created Vouchers: Number of vouchers already generated.
• Voucher Type: Type of financial voucher being used.
• Exchange Rate: Method of applying the exchange rate.
• Contract / Deal: Reserved for linking the schedule to a specific contract or deal.
• Narration: Description or purpose of the scheduled payment.