![]() ![]() It’s easier than editing Reminder transactions, or fixing duplicates if the amount happened to be different. Now that we have bank feed automation, you’re usually better off making Banking Rules instead, since they take into account variations in dollar amount and date. In the “old days,” you may have used Recurring Transactions (“Memorized Transactions” in QuickBooks Desktop) to enter routine expenses like Rent or Insurance. Sometimes I’ll even include instructions in the Description field! I like to include amount placeholders, especially when debits/credits and positive/negative numbers are involved. Note that if you create a Scheduled Sales Receipt without this checkbox, the transaction will look like it ran, but you’ll never see it hit your bank account!Īnother suggested use of Recurring Transactions is to create standardized transactions to save you from repetitious data entry or recreating the wheel every time.ĭesign any type of transaction with Account categories or Products and Services and default descriptions. Confirm that “Process credit card” or “I have authorization and would like to process this transaction” are checked off. If you use QuickBooks Payments merchant processing, select the credit card, or use Check for ACH.Specify an End Date if the payment is only for a certain length of time. The Interval can be Daily, Weekly, Monthly, or Yearly, on a specific day (“the 1st of the Month”), or a time period (“the 2nd Tuesday of the Month”). Confirm that “Automatically send emails” is checked (unless you don’t want it to send the receipt). ![]() Set it to Scheduled so that it just does its thing, without waiting for you.Name the Recurring Transaction with a descriptive name so you’ll know what it is when you see it on the list.After you have confidence in its performance, turn it into a Recurring Transaction by opening it again and clicking “Make recurring” at the bottom. ![]() Set it up, then Save and run it for the first time so that you know the payment method is valid. Here’s how it works: Create a new Sales Receipt for the first charge. My monthly billing cycle for 75 clients takes me exactly 0 minutes, every month. Because I use QuickBooks Payments, the sales even batch deposit themselves. I create Sales Receipts that occur automatically on the 1st of the month, run my clients’ payment, and email their receipt. Every client fills in an authorization form with their credit card info or ACH bank information. My clients pay automatically at the beginning of the month, so that I never have to chase down delinquent accounts. My own favorite use for Recurring Transactions is for my monthly client charges. I’ll demonstrate two sample uses: a Scheduled Sales Receipt and an Unscheduled Estimate. ![]()
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