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 window is open, set it up as a memorized transaction with these steps:
- Click Ctrl-M, or Edit Menu – Memorize
- Name the transaction something that you’ll recognize
- Fill out the options for How Often, Next Date for the transaction, Number Remaining times to post it.
- You can have QuickBooks remind you to post the transaction when the due date approaches, or post it automatically.
- You can view and post transactions that you’ve memorized by going to the List Menu – Memorized Transaction List, or Ctrl-T.
Also in the Memorized Transaction List, you can:
- Delete memorized transactions – highlight the transaction and click Ctrl-D or right-click and Delete Memorized Transaction
- Keep a transaction memorized, but make it inactive. Edit the transaction – Ctrl-E or right-click and Edit Memorized Transaction. Change How Often to Never.
- Change the date or frequency of posting, whether you’re reminded before posting the transaction, or whether it posts automatically. This is also under Edit Memorized Transaction.
- Change the dollar amount or account of a memorized transaction.
- Highlight and enter the transaction.
- Confirm that the date of the next transaction is correct.
- Change the information that needs modifying.
- Click Ctrl-M (or Edit – Memorize Transaction) to memorize it, and click Replace in the pop-up window.