Charging recurring fees to accounts can be useful, particularly for renting out space to vendors. ConsignCloud allows you to add recurring fees to accounts, which can be charged on a monthly or weekly basis

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

To apply a recurring fee to an account, navigate to the account in the accounts table (Menu » Accounts), press the three dot menu at the top and select 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.

If multiple locations are created, you can also attach the fee to a specific location. If you do, the balance entry for the charge will be associated with that location.

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 the account's page under the Recurring Fees Tab at the bottom. Deleting a recurring fee will not delete any balance entries, 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 and then delete the old fee.

This makes it more clear how the change will affect when the fee is charged.