Creating and setting up transactions in QuickBooks is a smart way to save time and effort while smartly handling the recurring- transactions. We will discuss all the aspects of setting up the recurring transactions in QuickBooks. So let us start!
How to create recurring transactions template in QuickBooks?
Please follow these steps to create recurring transactions in QuickBooks:
- Firstly click on the ‘Settings’ option. It is represented by a ‘gear’ icon at the top of the QuickBooks app window.
- Now please select the option that says- ‘Recurring Transactions.’
- A new ‘Recurring Transactions’ page will open.
- Please click on the ‘New’ tab.
- Here you can select the transaction type you wish to create a template for.
- After making the choice click on ‘OK.’
- Now you need to enter the template name.
- Now QuickBooks will ask you to choose the type of the template.
Types of templates:
1. Scheduled Template:
- This kind of template best suits the transactions which are fixed/ schedules in nature. For example- there is a fixed or preset amount for transactions such as loan installments, rents, depreciation and so on.
- These templates can be set so that you receive a notification every time a transaction has been made.
- If you don’t wish to get notified, QuickBooks will still record them internally for any future reference.
2. Reminder Templates:
- These templates best suit those transactions that have some fixed schedule that require your intervention before they are finally sent. A good example of reminder templates is utility bills.
- You can edit the reminder templates by clicking on ‘View reminders link.’ Here you can manage all the tasks related to a particular template.
3. Unscheduled Templates:
- This type of template is created for those transactions that won’t take any automated step until you take any action.
- Basically, these are some kind of saved up lists of partial or complete data, for which you need to take some action at a undefined future point. This template works well with complicated invoices that involves different customers.
- To create this template simply choose’ Template.’ Option and click on ‘Use.’
1. While creating an invoice template:
- Please mention that the invoice should include the unbilled charges and automatically send emails.
2. If you are creating a scheduled or reminder template:
- Choose ‘Schedule’ and specify the time intervals of the recurring transaction.
- Start and the end dates.
- Then save the templates.
- Open ‘Transaction’ page.
- Click on ‘Make Recurring.’
- Fill the fields with information.
- Save the template.