QuickBooks 101: Simplify Your Business by Automating and Customizing Recurring Transactions

QuickBooks 101: Simplify Your Business by Automating and Customizing Recurring Transactions

QuickBooks accounting software is versatile and saves a lot of time, cost, and other resources of the companies using it. A number of businesses send invoices to clients on a regular basis i.e. weekly, quarterly, monthly and/or annually. Yet, very few businesses are aware of a nifty feature in QuickBooks that allows them to save time and effort in creating these recurring invoices.

Yes, we are talking about automating recurring invoices in QuickBooks that allows huge savings of cost and time for businesses.

With just a few clicks, you can set up recurring invoices to be sent automatically. The powerful accounting software can send out customized invoices to your clients on a regular basis. It can “memorize” the recurring invoices and send them to the clients while entering them into your ledger accounts.

Save Cost and Time by Automating Recurring Invoices and Bills

QuickBooks accounting software saves the standard items of an invoice as a template. This means that if the value of the invoiced items changes, you can update it in the template without having to create a new invoice.

Apart from sending out recurring invoices automatically, you can also setup the invoices to be sent out manually. You can set a reminder in QuickBooks for the recurring invoices. The software saves the recurring invoices to a list. These invoices are just one mouse click away to be sent to the client. Memorized invoices not only save time and cost but also reduce errors and mistakes in sending the invoices.

In the following, we will inform you about the steps required to setup and customize the following recurring transactions in QuickBooks.

Recurring Cash Flows

  • Loan and Lease Payments
  • Bills and Checks
  • Health Insurance Bills
  • Electronic Withdrawals

Recurring Sales and Revenues

  • Monthly Installments Due
  • Rent Collections
  • Recurring Sales Revenues


Recurring Purchases and Expenses

  • Monthly Purchase Orders
  • Rent Payments
  • Depreciation Journal Entries
  • Allocation of Overhead Expenses
  • Recurring Quotes

You should also note that certain accounting transactions cannot be set up as a recurring activity in QuickBooks. These include sales tax payments, payroll checks, bill payments, time records, and receipts and deposits of payments.

How to Memorize Recurring Invoice and Bills?

Memorizing is a technical term in QuickBooks that refers to saving transactions that occur regularly. Here are the steps that you need to take to memorize transactions in QuickBooks.

Step 1: Open transaction activity window and input the required values.
Step 2: Now, press Ctrl+M to save the transaction. You can also perform this step by selecting “memorize” from the edit menu.
Step 3: Enter a name for the transaction. Make sure the name you select easily identifies the type of transaction you are saving in QuickBooks.
Step 4: Input the required fields: how often, next date to entering and the number of the remaining payments box.

After completing the step, the transaction will be saved in QuickBooks. If you want to retrieve the memorized transaction, you can press Ctrl+T or select the memorized transaction from the list.

How to Edit or Delete Recurring Invoice and Bills?

You can edit the transaction template anytime after saving it in QuickBooks. Here are some of the steps that you need to take in order to edit, change values or delete the recurring invoices.
Step 1: Press Ctrl+T to open the memorized transaction
Step 2: If you want to delete the transaction permanently, you should press Ctrl+D.
Step 3: In case you want to keep the transaction but make it inactive, you need to press Ctlr+E.
Step 4: You can also press Ctrl+E to change the frequency or date of the recurring transaction.
Step 5: Sometimes, you may also need to change the value of the memorized transaction. In order to edit and change the amount of memorized transaction, you need to press Ctrl+T. Now, change the required information in the transaction. Finally, press Ctrl+M to memorize the transaction. At this point, you may also have to click on the box specifying that you want to replace the memorized transaction with the new one.

How to Customize Recurring Invoices?

At times, you may want to customize the invoices sent to the clients to give your invoices a more professional appearance. QuickBooks accounting software contains a number of invoice templates that are designed for different kinds of companies. Whether your company is a retail outlet, franchise, or non-profit organization, you can find the required template that you need in QuickBooks. You can customize any of the templates with the QuickBooks Create Invoice tool.

Here are some of the steps that you need to take to customize QuickBooks invoice templates.
Step 1: From the main menu bar, click on “customers”. Now, from the pull-down menu select “Create Invoices”.

Step 2: Click on the print preview to get a better picture about which segment of the invoice you need to customize. You should sketch out a detail as to how you want to customize the invoice. Afterward, click on the close button to exit the print preview screen.

Step 3: Now, from the drop-down menu, select “Customize” and then select “Manage Templates”.

Step 4: Click on each of the templates in the template gallery. You should preview the template thumbnail and select the preferred template.

Step 5: After selecting the template, you should specify the customization preferences from the options window. QuickBooks allow you to customize each portion of the invoice. You can add your company logo, change the font and size of your company name, edit contact information, modify the title of the invoice, add and amend fields in the invoice, and add special section such as legal disclaimers, and notes to customers.

Step 6: When you have finalized editing the invoice, you should select the print preview button to see how the invoice will appear when printed on the screen.

Step 7: Finally, click on OK to save the invoice.


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