A recurring payment is a payment made over and over, such as a house payment, car payment or electric bill, etc. that come due monthly or bimonthly etc.

The paying party or his surety.

There are some business transactions which occur regularly at fixed intervals. Examples are rent payment; payment of term loan installment and payment of vehicle loan installment. In order to post this type of transactions we can use this recurring document functionality. To use the recurring documents two conditions are to be satisfied..

1. The day of posting should be same in every interval

2. Theamount of the transaction should be same in every interval.

For every recurring document we should specify the fist rundate. Last run date and interval for posting.

The original recurring documents do not update any transactional figures. The transactional figures are updated when the accounting documents are posted using the recurring documents by running the recurring cycle

If you have paid by Paypal as a recurring payment then you can cancel it through Paypal - go into your Profile and you can find a list of recurring payments and cancel it from there.

If you have online billing through your orchard bank then you will be able to set up recurring payments. Follow the instructions through your online banking program, and you will be able to set up a payment that will recur for you.