Recurring Payment Settings

From Admin > Financial Settings > Recurring Payment Settings you have some options available to set how you would like vega to manage your recurring payment schedules.

• Number of retries (before a credit card recurring payment is suspended)

This setting will determine how many times a recurrence schedule will retry a credit card if the initial payment fails. 

• Number of days before next retry

This setting will determine how many days between each retry for the number set above. Please note, this setting will be applied to all recurring schedules regardless of their frequency. For example, if it is set at 7 days as shown above and a weekly recurrence fails, two payments will be attempted the following week for the failed transaction and the original next payment due.

• Recurring payment batch creation frequency

Recurring payments are automatically added into batches as per their pay type and the date, eg. Credit Card 1120. This can be set to create a new batch each day, week, fortnight or month.

• Recurring payment auto generate payments

When this setting is on, vega will process recurring payments even when no credit card is attached to the recurrence schedule. This can be used for recurring payments being made by cash, directly into the bank account or by an alternative payment gateway. The recurrence will create a payment as per the details in each frequency schedule and with the status set below.

• Recurring payment auto payment default status

This allows you to set the status of each payment that is created by an auto-generated recurring schedule., when the setting above is turned on. When no status is selected it will default to Payment Successful. This functionality can make it easier to reconcile when you're importing recurring payments from Xero or MYOB that are being made directly into your bank account. If this status is chosen as Pending or Incomplete then only when the payments are imported will they be updated to successful and any missed payments will remian as Pending or Incomplete.