There are a number of transactions that will happen repeatedly, and you can have QuickBooks memorize them and post them on a schedule, e.g. monthly or quarterly. Some examples are:
- Monthly bills, e.g. loans, leases, rent, health insurance, utilities
- Quarterly or annual journal entries for depreciation
- Recurring sales (invoices) for rent received or installment payments from customers
While the transaction is open, set it up as a memorized transaction with these steps:
- Click Make Recurring at the bottom of the page.
- Name the transaction something you’ll recognize.
- With the Interval fields, select how often to post it, and the schedule, e.g. the 7th day of the month, or every 3 days.
- Put in whether there will be an end date, when the transaction should stop posting.
The Type field at the top of the screen gives you 3 options for how the transaction will be posted.
- Scheduled: The transaction will be posted automatically, on the schedule you set up. You don’t have to do anything. This is useful for transactions that happen on a set schedule, and for which the dollar amount doesn’t change, e.g. rent and depreciation.
- Reminder: You’ll get a reminder to post the transaction, but it will not post automatically, like Scheduled transactions are. You’ll see the reminders on your Home page, under Tasks. Click on Choose Reminders. You can review and edit the transactions before you post them. This type of transaction is useful for things that post on a regular schedule but need to be edited before you post them, e.g. utility bills that have a different dollar amount each month.
- Unscheduled: The transaction will be saved as a template but won’t post unless you do it manually. You won’t get a reminder for it. This is useful for transactions with a lot of information that you don’t want to fill in every time you use it, but don’t happen on a set schedule.
- For Scheduled transactions, you need to fill in every field. If a line is for $0.00, put that in. Any lines that are blank, won’t be saved. This isn’t necessary for Reminder and Unscheduled transactions, since you’ll edit the transaction each time you post it.
You can view and post transactions that you’ve memorized by clicking on the Gear menu at the top of the page and clicking on Recurring Transactions.
Also in the Recurring Transaction list, you can edit or delete transactions by clicking on the down arrow on the right side and clicking Edit or Delete.