February 25, 2009

Recurring Billing with Quickbooks

I know I typically blog here about .NET and DotNetNuke, but I have been fielding more and more questions via e-mail about how I manage my business.  So it was with that, and a recent question that I had of my own that I might try making a few business related posts here.  If there ends up being interest, I will continue with some general business items, otherwise, we will just go back to the regular scheduled programming!

Now, on to the issue at hand, when running a business such as mine, it is very common to have "recurring" invoices.  Say for hosting or support items that may be monthly, quarterly or yearly.  Up until now I have been using a crude system to remember, and honestly it hasn't been all that effective.  Having Quickbooks I figured there would be a way of doing it, but for the life of me I couldn't remember.  So I posted out to Twitter to see if anyone had recommendations, and in literally 5 minutes @BrandonHaynes responded with the perfect solution, and that is what I explain below.

Memorized Transactions

Throughout QuickBooks you typically see a "Memorize" button, it is there for reports, and many other items.  However, when creating invoices you don't typically see it.  Well, there is an option to "Memorize Invoice", it is available from the "Edit" menu, or you can simply press CTRL + M.  This is the key to being able to setup QuickBooks to remind you of the recurring payments that you must invoice for.

So with the invoice that we need to setup on a recurring basis we can enable this option, and we will be presented with the following screen.

QB Memorize Transaction

From here we can control exactly how Quickbooks will remind us of the transaction.  On the left we can set it up to remind us or automatically enter it for us. We also create a unique name for the transaction.  On the right side you can select the frequency and the next date for the transaction.  Then simply hit "Ok" to memorize the transaction.


I just thought that this would be a very helpful tip for fellow business owners out there, as I know just how much time goes into managing invoices and customers.  And the more efficient we can be on that front, the better we can be at serving our customers!  Be sure to share your thoughts below, including if you would like to see more business related posts here as well.

tags: Business
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