Charging recurring fees to accounts can be useful, particularly for renting out space to vendors. ConsignCloud allows you to set up recurring fees, on a monthly or weekly basis, and apply them to accounts.

These fees are deducted from the account balance, which saves you money and work over other methods of charging your consignors. The fee will show up on an account's settlement receipt, as a negative amount alongside any sales.

Before applying a recurring fee to an account, you must set one up. Navigate to Menu » Settings » Operations » Recurring Fees and press Add Recurring Fee.

Give it a name that describes what the fee is for. This name will be used when applying fees, and will be shown on consignors settlement receipts. Frequency can be weekly, day of month, or end of month. Weekly fees can be charged every week, or every two weeks, and so on. Monthly fees can be charged on any day of the month, up to 28, or on the last day of the month.

Once you've created a recurring fee, you can add it to an existing account or apply it when creating a new account. If applying to an existing account, edit the account and select the fee you set up under "Recurring Fees" after navigating to the account, pressing the three-dot menu, and selecting "Edit Account". You can also apply fees when creating an account.

Recurring fees are charged at midnight.

A recurring fee will never be charged the same day it is applied to the account. At the soonest, it will be charged the following day.

Recurring fees may cause an account balance to go negative. If this happens, you may wish to resolve this negative account balance. While you can't invoice accounts from ConsignCloud, you can find any accounts with a negative balance by filtering the accounts table. From there, you can invoice accounts using a third party system, and then apply the amount of the invoice with a manual balance adjustment.

What are recurring fees used for?

Recurring fees are especially useful for renting out physical store space. You can simply set up a recurring fee for the amount of the rent, and it will be deducted from the account's sales at the specified interval.

What happens if I delete a recurring fee?

Recurring fees can be deleted from Menu » Settings » Operations » Recurring Fees. Deleting a recurring fee will not delete any balance entries, but it will remove that fee from any accounts it was attached to, and no further charges will be applied.

Why can't I modify the frequency of a recurring fee I already created?

Rather than modifying the frequency of an existing recurring fee, you should create a new fee with the desired settings. You can then use a bulk edit to apply the new fee to existing accounts, and then delete the old fee.

This makes it more clear how the change will affect existing accounts with the fee already applied.