Recurring Transactions in QuickBooks

Recurring transactions in QuickBooks are a valuable feature that allows you to automate and schedule repetitive financial transactions, such as invoices, bills, checks, and journal entries. Setting up recurring transactions can save you time and help ensure that important transactions are processed accurately and on schedule. Here’s how to create recurring transactions in both QuickBooks Online and QuickBooks Desktop:

QuickBooks Online:

1. Access Recurring Transactions:
   • In QuickBooks Online, go to the “+ New” button in the upper left corner.
   • Select “Recurring Transaction” under the “Other” section.
2. Create a Recurring Transaction:
   • Click the “Transaction Type” dropdown menu and choose the type of transaction you want to create (e.g., Invoice, Bill, Expense).
   • Fill out the transaction form with all the necessary details, just as you would for a regular transaction.
3. Set Recurrence Schedule:
   • Below the transaction form, you’ll find the “Recurring” section.
   • Choose the recurrence schedule (e.g., daily, weekly, monthly, yearly) and specify the start date and end date if applicable.
4. Review and Save:
   • Review the transaction details to ensure accuracy.
   • Click the “Save template” button to save the recurring transaction.
5. Manage Recurring Transactions:
   • To access and manage your recurring transactions, go to the “+ New” button and select “Recurring Transaction.”
   • Here, you can view, edit, or delete recurring transactions.

QuickBooks Desktop:

1. Access Recurring Transactions:
   • In QuickBooks Desktop, go to the “Lists” menu.
   • Select “Recurring Templates List.”
2. Create a Recurring Transaction:
   • In the Recurring Templates List window, click the “Template” dropdown and choose “New.”
   • Select the type of transaction you want to create (e.g., Invoice, Bill, Check).
   • Fill out the transaction form with all the necessary details.
3. Set Recurrence Schedule:
   • In the “Type” field, choose the recurrence schedule (e.g., scheduled, reminder).
   • Specify the frequency and interval (e.g., every month, every 15th of the month).
4. Review and Save:
   • Review the transaction details to ensure accuracy.
   • Click “OK” to save the recurring transaction.
5. Manage Recurring Transactions:
   • To access and manage your recurring transactions, go to the “Lists” menu, then select “Recurring Templates List.”
   • Here, you can view, edit, or delete recurring transactions.

Efficient accounts receivable processes are essential for consistent revenue. Our bookkeeper for small business ensures that your clients pay promptly, improving your cash flow.

Recurring transactions in QuickBooks are particularly useful for handling routine bills, invoices, and journal entries. They can also be a helpful tool for managing periodic expenses and income. Regularly review your recurring transactions to ensure they accurately reflect your financial processes, and make any necessary updates or changes as your business needs evolve.