Schedules

“Schedules maintain information about transactions that occur one or more times over a period time.”

Sometimes called recurring transactions, schedules provide a means to record information about transactions that happen on a regular basis. A common schedule is your salary. Once a month, or even weekly, the company you work for pays you for services rendered. This payment can happen in many different ways but each month or week you will receive a payment that needs to be recorded.

Because you know these payments are regularly made to you, a Schedule can be created to record information about the payment and even create the transaction for you when pay day arrives.

Other types of schedule can also be recorded to reflect money coming in and out of your account. Common expenses such as utility bills or money transfers can be recorded with schedules along with loan repayments.

The schedule consists of two main parts; the scheduling data and the transaction itself. The scheduling data records the occurrence of the schedule, ie. when the transaction is to be entered into the ledger and how. The transaction data records normal transaction information and will be entered in to the ledger as-is.