Process Bills Through — This field holds a date that defaults to the system date. Changing the date shows the recurring bills that have a next due date on or before the new date selected.
Select the bills to generate. By default, all are selected. To select individual bills, clear the Vendor checkbox at the top of the column.
Click the Generate Selected Bills button to generate the selected bills. This creates a bill from each selected recurring bill. They are generated with a bill date of the next due date.
When the process is finished, all processed recurring bills have their due date updated to the next date that fits their cycle.
For example, if a recurring bill’s frequency is monthly and Managely generated a bill from the recurring bill when its next due date was for 7/15, Managely updates the recurring bill’s next due date to 8/15.
Managely accounts for these scenarios when generating recurring bills:
- 1. When a recurring bill has not had a bill generated from it for a while so it has an old next due date, Managely displays a bill with a total of the missed generated bills to get the recurring bill current.
For example: Enter 7/15 in the 'Process Bills Through' field, but vendor 1 has a recurring bill with a monthly frequency of $10 and a next due date of 4/1. Within the recurring bill grid, Managely displays a bill with an amount of $40 to account for 4/1, 5/1, 6/1, and 7/1, to get the recurring bill current.
- 2. If a due date has been entered that exceeds the number of days in a given month, Managely uses the last day of the following month and continues using that date moving forward.
For example: Vendor 1 has a recurring bill with a monthly frequency and a next-due date of 1/31. After processing the recurring bill and generating a bill for January, you want to update the next due date of that recurring bill to 2/28. After February is processed, the next due date will then be updated to 3/28. The recurring bill will continue to use the 28th day of the month moving forward.