Set-up recurring transactions to record at regular
intervals over a period of time. Choose to record
automatically or have QuickBooks remind you or
just add the transaction to a list and its ready for
entry with one mouse click at any time.
A
recurring transaction that has been set-up in QuickBooks
is called a memorized transaction. Memorized
transactions reduce mistakes, keep better tabs of cash
in bank and increase accuracy:
Why Use Memorized Transactions
in QuickBooks?
Here are examples of recurring transactions that
will save you time to set up as memorized transactions
in QuickBooks:
Recurring outgoing cash flows
- Loan or lease payments
- Recurring bills in QuickBooks
- Recurring checks in QuickBooks
- Monthly health insurance bills
- Monthly electronic withdrawals from checking such
as internet access payments or
business insurance
installment payments
- Rent
Recurring sales in QuickBooks
- Recurring sales transactions
- Rent collections
- Monthly installments payments due from customers
- Repeating tuition invoices
Recurring purchases orders in
QuickBooks
- Purchase Orders that are repeated with many of the same
items
Recurring journal entries in
QuickBooks
- Recurring Monthly depreciation
journal entries
- Allocation of overhead to other departments
Recurring Estimates - if you frequently choose the same line
items when creating a quote
How to work with memorized
transactions in QuickBooks
Memorizing must be done while the transaction activity
window is open.
- Enter the transaction as you
would like it memorized
- Control + M or from the edit
menu select “memorize”
- Enter a name that will help you
recognize the transaction
- Complete the options: How often,
Next Date to enter, Number of remaining payments
- Retrieve and use the memorized
transactions from the list menu. or use shortcut
Control key+ T
- The transaction template you
used to create the memorized transaction can be saved
as a valid transaction, or cleared.
From this list window (control + T)
you can:
- Permanently discontinue a
memorized transaction- highlight and
delete the transaction (control + D).
- To keep the transaction on
the list but not active, highlight and edit the
transaction (control + E).
-
Change the date or the frequency by
highlighting and edit the transaction (control
+ E).
- Occasionally, there is a need
to change the amounts within a memorized
transaction (see below). Whenever a change to the
amount is made, be sure to confirm that the date of
the next transaction is correct. The
date of the next entry appears on the memorized
transaction list (control + T).
To modify a dollar amount or
account of a memorized transaction, from the list window
(control + T).
- Highlight and enter the
transaction
- Change the information that
needs modifying
- Control + M to memorized,
and from the pop-up window, click on replace
transaction
- Clear the transaction window
- Return to the memorized list
(control + T) and review the settings of the
memorized transaction (highlight and edit -control
+ E)
Transactions which cannot be
memorized include payroll checks, time records, bill
payments, sales tax payments or receipts or deposits of
payments.
If you need help making corrections, call
or
to discuss options and prices. We can solve many
problems using remote access, telephone or e-mail
support
We sell
QuickBooks checks and
tax forms at a discount,
provides
QuickBooks training and support,
sell
QuickBooks software. Visit us next time you need to
buy these items and save money!
QuickBooks help, tips, and information that can help your business.
QuickBooks Training Home
If you find
this page helpful
GMAIL users - - please click on the plus
one button in the top right corner of this page
TWEETERS- re-tweet and
FACEBOOK users - tell your friends and
BLOGGERS - link back!
And
bookmark us and come back often for more tips
or when you are ready to reorder
QuickBooks
Enterprise, QuickBooks Software, QuickBooks Checks or
supplies.
Thank you
|
