Scheduling Recurring Transactions

The next level of convenience after having QuickBooks memorize a transaction for you is to have QuickBooks take care of executing the transaction too. After you get the hang of this procedure, you can let QuickBooks do all your work! Seriously, it's nice not to have to worry about paying the rent on timeask for a friendly reminder or just let your program do your chores automatically. This example sets up your monthly rent or mortgage payment as a recurring transaction.

Create a Recurring Transaction

Open the transaction window. For this example, press Ctrl+W to open the Write Checks window.

Enter the name of the vendor or payee, in this case your landlord or mortgage company.

Enter the amount of the payment.

Enter the account to which the payment will be charged.

Indicate whether this check is to be printed or if the payment is to be made online.

Press Ctrl+M to memorize the transaction.

Select Automatically Enter.

Click OK.

See Also

A monthly journal entry for depreciation expense lends itself well to the scheduled transaction feature. See "Entering Depreciation" on page 338 for information on setting up a transaction for entering depreciation.

Choose Frequency of Recurrence

Choose a frequency in the How Often field to indicate how often you want this transaction to occur.

Choose a date in the Next Date field for when this transaction will occur again.

If there is a fixed number of occurrences for this transaction, for example 24 loan payments remaining, enter that in the Number Remaining field. Otherwise leave this field blank.

In the Days in Advance To Enter of the due date field, choose when you want this transaction to be executed.

Click OK.

Did You Know?

You can turn an already-memorized transaction into a recurring transaction. Just open the Memorized Transaction list (Ctrl+T), click on the transaction, and press Ctrl+E to edit. Proceed with the next steps.