Having NetSuite automatically create recurring transactions for certain revenue or expense items such as monthly rental can often save users wasted time re-entering the same transaction over and over again. From the experience of our NetSuite support team many NetSuite users are unaware that recurring transactions can easily be setup in NetSuite. Most users enquire how they can automate recurring transactions in NetSuite not realising that the Memorised Transaction option is available and is relatively simple to setup. Not only that, but it is often able to do just what they need it for which in most cases is a simple recurring transaction.
There is also of course a separate advanced module, called NetSuite Recurring Billing that you could also purchase and use if your billing rules were more complex. However, if your requirement is simply to generate the same value recurring transaction at regular intervals then the standard Memorised Transaction feature is all that you need.
These steps can be followed in creating a recurring transaction:
As you will see there are also other parameters which you could also define if you want to further refine the recurring transaction setup. Once the Memorised Transaction is configured your recurring transactions will then automatically be created for you.