15 QuickBooks Tips Every Small Business Needs To Know

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recurring invoices

At the bottom of the bill, select Make recurring. QuickBooks Online creates a copy of the bill and adds a “Recurring Bill” section so you can set the recurring bill’s preferences. Now you candelete your account from your chart of accounts. If you need help, reach out to our support team and we’ll help you how to do it.

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Find the invoice you wish to check for payment status. The fees for Autopay are the same as for any payments made through QuickBooks Payments. To enable Autopay, you’ll need a QuickBooks Payments account. If you choose weekly, you can choose to have the invoice created every one week, every two weeks, every three weeks, etc. You can also choose the day of the week when you want the invoice to be created.

Method 3: Enter credit card charges directly into the credit card register.

To make an estimate a recurring transaction, switch to the old experience. To create a new recurring transaction, click the New button at the top right of this screen. If you want to set a date for the recurring invoice sequence to end, then select “By” and enter an end date. This is helpful for contracts and limited engagements.

This is the occurrence cycle that defines how and at what interval a recurring transaction will occur. You can choose Daily, Weekly, Monthly, or Yearly from the drop-down. This depends upon how you invoice your customer.

  • This not only saves you time, but it also helps ensure your customers are invoiced correctly and on time, every time.
  • Let’s dig a bit deeper into how automation can help your business.
  • If you’re using the QuickBooks Online app on your smartphone, you can use the app to add photos of receipts, then access and add them to your books from this screen.
  • Retailers and wholesalers should choose Plus so that they can track the quantity on hand and the cost of inventory.

This feature gives you a chronological view of user entries and transactions that have been added, modified, and deleted. This report tracks changes to bills and invoices, updates to your chart of accounts, and even when accounts were last reconciled. If something seems off with your account, viewing these changes in the audit log can help you identify where the problem lies. Save time and data entry steps by using QuickBooks Online Recurring Transactions feature to schedule and enter monthly expenses with fixed amounts.

Get a Recurring Transactions Template list

In this article, we’ll take you through how to measure and outstanding checks recurring expenses, track and manage them, and use automation to stay on top of them as your business grows. When you set up any recurring transaction template, you will see that there are three types of templates you can create. These templates include Scheduled, Reminder, and Unscheduled. The recurring transactions feature is available in the Plus and Essentials versions, but not in Simple Start.

To get started, install the add-on to Gmail, then click the QuickBooks logo in your Gmail account. You can then sign in to your QuickBooks account to create, send, and track your invoices. If this is a recurring transaction — say, a rent payment — you can click on the “Create rule from this transaction” link to open the rules screen. You can also add an attachment to the transaction . There are three primary ways to enter credit card charges in QuickBooks Online. A step-by-step guide on the three primary ways to enter credit card charges in QuickBooks Online.


Scroll to the bottom of the menu and select Customize Shortcuts. From here, you can add, edit, and delete icon bar content. You can also reorder icons by simply dragging an icon up or down on the list. Don’t chase down your customers that haven’t paid their invoices.

How to Schedule Recurring Transactions: Record, Edit, & Monitor

Once you’ve added your primary bank account to QuickBooks Online, don’t stop there. Make sure to add all of your business accounts to get the most accurate picture of your finances — and have all of your account information in one spot. You can add all types of accounts, from credit cards to PayPal. Simply add each account through the Banking tab. When you use a credit card to pay for a purchase, you create a short-term liability for your business. Let’s say you only used a credit card for a brief amount of time.

After they sign in to their Intuit account, they can select Cancel autopay. Or maybe you have a contract with a customer and you will be billing that contract in phases. If you create a recurring invoice, you won’t have to worry about forgetting to invoice your customer on time. You will also complete the “invoice” part of the recurring invoice template, entering Terms, Product/Service, Description, Quantity, Rate, Amount, Tax and any other fields you need.

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Don’t worry — we have some neat tricks for you, too. It’s important to note you aren’t adding a transaction here. You’re simply matching a transaction you’ve already entered to the transaction in the bank feed — in short, reconciling it.

If the employee purchases a subscription or recurring service, this could result in many untracked recurring expenses for your business. Businesses face a growing number of invoices for recurring costs and it’s critical to track recurring expenses and pay them on time. If you’re not on top of your recurring expenses, it won’t take them long to grow into a major drain on your financial resources. Faced with this rapid growth, managing business expenses with calendars and Excel spreadsheets won’t cut it. The advantage of QuickBooks Essentials vs Simple Start is the ability to assign hours worked to specific customers.

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Plus includes inventory accounting that allows you to monitor stock items and quantity—a necessity if you’re selling products. It uses first-in, first-out inventory tracking, an essential feature that helps manufacturers or retailers determine how their inventory affects their profitability. It also lets you update inventory costs and quantities, separate taxable from nontaxable items, and set up alerts if you’re running out of stock.

Customize Reports

Resume the suspended charge and payments will begin on the next scheduled date. You can make recurring templates to automatically create invoices, expenses, and other tasks you do regularly. If you already have a recurring invoice setup, you don’t need to create a new one. Autopay is available for your customer if they use the payment methods you’ve selected on your invoice. Autopay works for both card and ACH transactions. Be sure you are using the right recurring transaction for your purposes.

You can click on this arrow to choose to use, duplicate, pause, skip next date or delete recurring transactions. You can also click the Edit link to make a change to the recurring transaction template if you want to make a permanent change to the template. It will display the list of all recurring transactions if any previously set up by you. You can create a new recurring transaction template by clicking on the “New” button in the upper right corner. In the course of running your business, there are transactions that you repeat, month after month, quarter after quarter, year after year.

You may also want to investigate expense automation solutions such as payment cards that let you take a higher level of control over employee spending. Once you have an idea of your recurring expenses, you can consolidate expenses into one contract and put it out to RFP or renegotiate existing contracts to get a lower price. It’s also an excellent opportunity to optimize supplier relationship managementand make supplier relationships more efficient and effective. This type of template proposes a series of transactions according to a schedule you set. The transactions are not sent until you decide to create and send them. These reminders can be found at the top of the “Home” page in the “Tasks” section.

Our team will review your application to determine whether we are a good fit for your organization’s needs. I am the Financial Controller behind Goshen Bookkeeping & Consulting. I help nonprofits and small businesses increase profitability one mission at a time. This defines how many days in advance the transaction is required. When you click on the “New” button a new screen will come up as follows.


Finish by clicking on the “Save template” button in the bottom right corner. Review the remainder of the invoice for accuracy, then click on the “Save template” button at the bottom right corner of the screen to save your recurring invoice. If you want the recurring invoice to be created a certain number of times, select “After” and enter a number of occurrences. If you want QuickBooks Online to create the recurring invoice before you need to use or send it, enter the number of days in advance you would like for the invoice to be created here. A step-by-step guide on how to create and schedule QuickBooks recurring invoices.

It’s also one of the most difficult options to understand. When you choose monthly, you can choose to have the invoice created on a certain date (the 1st, 15th, etc.) by choosing “day” from the drop-down menu. Finally, if you want the invoice to be created every two months, every quarter, every six months, etc., enter a number into the last box. So, if you want an invoice to be created quarterly on the second Monday of the month, you would set the fields as shown in the above screenshot.

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