QuickBooks Tip: Memorize Transactions
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Are you tired of entering the same transaction every month in QuickBooks? QuickBooks has the capability to memorize recurring transactions (invoices, bills, checks, etc.) and set them for automatic posting.
QuickBooks allows you to memorize recurring transactions and set them up for automatic posting daily, weekly, monthly, quarterly and annually. The process of memorizing transactions is easy:
- Create a new transaction or locate an existing one.
- Select the Edit menu and then select Memorize.
- QuickBooks will give you the following options:
| Remind Me | Adds transaction to Reminders List in the Company Menu. | User sets frequency |
| Don’t Remind Me | Appears on the Memorized Transaction List. | User cannot set frequency |
| Automatically Enter | QuickBooks enters the transaction based on the desired frequency. | User sets frequency |
| With Transactions in Group | QuickBooks enters transaction as part of a transaction group. | See below for memorized transaction groups |
Depending on the types of transactions your company has, memorizing and automatically entering transactions could save you time and money.
For example, a company that collects monthly rent from tenants could memorize invoices for each tenant and setup QuickBooks to automatically create monthly invoices. It’s important to remember to setup the delivery option on your memorized transaction as either “To be printed” or “To be emailed.” Based on this example, on the first day of the month, QuickBooks will automatically record the invoices (if you chose this option above),and then you can print the invoices as a single batch by selecting the File menu, selecting Print Forms and then selecting Print Invoices.
You also have the capability to group memorized transactions. In the example above, you would group all the invoices due on the 1st of the month. This will prompt you one time for all the invoices due on the 1st instead of prompting you for all 100 invoices.
To group memorized transactions, follow these simple steps:
- Go to the Memorized Transaction List.
- Click New Group at the bottom of the list.
- Enter the name of the new group.
- Choose how you want to manage the transaction group.
You can have QuickBooks remind you about the transaction group on a regular basis, you can merely have the transaction group available for future use without being reminded about it, or you can have QuickBooks record the transactions in the group on a regular basis.
We put them in pending until they are delivered and then take them out of pending,
what happens if the memorized transaction list doesnt automatically record them one month????
If the memorized transactions are not automatically entered one month, first confirm that the “Automate Transaction Entry” option is selected for each transaction under the Memorized Transaction Menu. Also verify the other details such as “Next Date” or “Days in Advance to Enter” to confirm all the settings are correct. Once confirmed, the transactions will have to manually be entered for that month but should automatically post on the following month.
I print over 200 invoices quarterly…they are memorized in the memorization list. yet, when it time to print several do not print and I have to individual call up the invoice and print it. Why is this??
I took over another person’s job…we have checks that are mailed out on a monthly basis. When I open QB on the date set, it asks me do I want to record these now….I always say no but I am wondering what happens if I say yes…I would like to be able to print these as a batch, I do have “Print Later” checked….I have been printing these individually….please advise.
Greta,
If you click yes then invoice are ready to print all at once – you just go to the FILE tab above – scroll down to PRINT FORMS – a new window will pop open choose INVOICES
I have 150 customers that I bill monthly at the same rate. How can I change all the rates without entering each one one at a time? Is it possible to change one and then copy that amount to all the others?
Thank you for your help
Lori
I invoice 150 customers quarterly. Is it practical to memorize a transaction for each customer? Will QB insert an invoice number? So when I group them I am grouping a batch of separate invoices rather than a collection of harges for one invoice?
Thanks
In order to print invoices, they must be recorded in the system. An alternative would be to create and memorize estimates. These estimates will not be posted to the QuickBooks file. See the steps below.
Go to the Customers menu and click Create Estimates.
Fill in the line items that you want to appear on the memorized estimate.
QuickBooks automatically memorizes an estimate without a customer:job name. Likewise, if the information in other fields changes with each estimate you prepare, leave them blank when you memorize the form. For example, you can enter items, but not quantities.
Go to the Edit menu and click Memorize Estimate.
Enter a name that will help you recognize this estimate when you look for it on the Memorized Transaction list.
Make sure that the How Often field says Never and leave the other fields in the Memorize Transaction window empty.
Click the OK button to memorize the estimate.
I hope this helps.
Lori Bucci
I have created memorized transactions for customer invoices
I want to print the invoices before the date they are to be recorded in the customers accounts
However, when I print them the invoice is recorded. I then must delete the invoice from each customers account
How can I print the invoices without them being recorded
Hope you can help