Data entry is a tiring assignment. It is time-consuming & often forgotten by most accountants. In order to prevent something like this, you can use the QuickBooks Memorized Transaction feature. It is one of the most momentous features that permits you to set reminders for due transactions.
In this blog, we will clarify the entire functionality of this feature. Whether you need to create transactions or want to change it according to your preference, we will guide you through the procedure. You can trust Cloud Network USA for all kinds of errors or questions related to QuickBooks. Our QuickBooks experts team puts the best foot forward to ensure hassle-free accounting for our clients.
QuickBooks Memorized Transaction – Beneficial Features
We utilized this function on our accounting software and found the following advantages that could be valuable for your business too: –
- It is a Time-Saving Solution
- Remove Mistakes
- Improves Accounting Accuracy and Exactness
- Permits you to memorize: –
Sales and Purchase Orders
Credit card Charges
Making a QuickBooks Memorized Transaction: Step-by-Step
Much the same as the QuickBooks online multiple companies option, this feature is a savior for accountants and entrepreneurs out there. Here is the means by which you can make it:
Step 1: – Enter the transactions exactly how you need it memorized, without saving it.
NOTE: Some fields may require change, leave them clear. You can enter the sum or figure a short time later.
Step 2: – Now, select the Memorize option in the Edit menu.
Step 3: – Choose a particular name for the transaction and then enter it. You will get the following options to deal with the transactions, pick them according to your preference: –
Add to my Reminders List: This option permits you to include the transaction in the Reminders list. When you use the option, you will be able to edit the How Often segment.
Do Not Remind Me: Using this option, the transaction won’t save or automatically included in the Reminders List. It permits you to use the ‘as needed’ template for repeating transactions.
Automatic Transaction Entry: The transaction will be entered automatically once it is due. After you select this option, remember to utilize the ‘How Often’ and ‘Next Date’ fields. The Next Date must be a date later on.
Step 4: – Type the entirety of the other important information in the Memorize Transaction window. Now, click on the OK button to continue.
Step 5: – in that case you only want to enter the transaction for future use, choose the Clear button and close the window. But if you want to record the memorized transactions, at that point you require choosing Save and Close choices respectively.
Updating a Memorized Transaction in QuickBooks
- From the List menu, you have to select the Memorized Transactions List.
- After that, double click on the transaction of your choice.
- You will have the option to edit it as per your needs.
- Now click on Save and Close option
- At last, click on the next button to continue and enter the transaction.
Create QuickBooks Memorized Transactions Group and Adding Transactions in it
Sometimes, you might need to group similar kinds of transactions together. For that, you have to follow this means: –
- First of all, choose the Memorized Transactions from the Lost menu.
- Now, select the New Group option from the pop-up menu that displays.
- Type the group name in the text box and then select the Date and Action option.
- At last, click on the OK button.
When a group is created, you might need to include a new transaction in it. Use these steps whenever a requirement arises: –
- First of all, open the transaction that you want to memorize.
- Now, select the Memorize option and select the Add to Group option.
- then, enter the group name where you need to add it.
- At last, click on the OK button to save the steps.
Deleting or Modifying a Memorized Transaction
There will be times when you would need to erase or make changes to a QuickBooks Memorized Transaction. On the off chance that a circumstance like that comes up, follow these steps: –
- First of all, open the Memorized List of Transactions.
- Now, select the Edit button.
- After modifying the transactions, remember to click on the Memorize option.
Thus, this was the whole procedure of using the Memorized Transaction feature. In case any of the steps are unclear, you can contact our QuickBooks experts on our QuickBooks Support helpline number. Our team is always available to provide the best solutions to solve the queries related to QuickBooks.