FBCtroyPA wrote:I can understand doing recurring payments, but when I try to set one up, it asks for an account/amounts to debit or credit. The monthly utility bill amount varies so how do I set up this transaction?
Most utility bills average about the same. When you create the recurring payment/invoice, use the average payment amount. You'll have a chance to verify the amount and the save the changes from the
Maintain Open Invoices or
Maintain Manual Checks screen.
I have a few utility payments setup, I'll use gas and phone for examples.
The Gas payment is a 'budget billing' setup, where the amount is always the same for 12 months. That's an easy one to setup. When I release the recurring payment, I go to the invoice and update the reference to reflect the month & year I'm paying the bill for.
However, the phone bill varies based on the number of days in the month, but say it averages $110.00 a month. I use that amount to create the recurring transaction. When I release this one, I change the reference, but also update the amounts to reflect the actual bill, then save it.
It does save a few steps when doing a lot of bills, not to mention it also makes sure that you have paid all the usual monthly bills and that you haven't forgotten one in some way.