You can create templates for recurring transactions in QuickBooks Online, such as recurring expenses. But there is an exception for bill payment, customer payment, and time activities, else you can do it for every transaction.
In this article, we will discuss how to create recurring transactions in QuickBooks Online and show you how to set up and make the maximum use of recurring templates.
Steps to create recurring transactions in QuickBooks Online from scratch
Here are the steps to create recurring transactions in QuickBooks Online. Follow the steps as given.
If you want a fresh template then you have to start from scratch.
- First, click on Settings ⚙. Then go to the Lists, and click on Recurring Transactions.
- Now, click on New.
- Click on the type of transaction to create, and then click on OK.
- Now insert the Template name.
- Select a Type: Scheduled, Unscheduled, or Reminder, which you want.
Suggested Read: How To Set up Recurring Credit Card Payment in QuickBooks
- Generates a list of transactions according to the set schedule. If you select to send them by email after creating, then this will be automatically sent.
- How you control this transaction: You can select to be informed whenever a transaction occurs or not. In any case, they are registered without any interference from you.
- Scheduled type is beneficial for those transactions with a fixed schedule and amounts that do not change, like rent payments, loan payments, and discounts.
- Partial or full data and saved without a schedule. This type of template does nothing unless you choose to use it.
- Check out the steps to control it:
- Open the Settings ⚙.
- Go to the Lists, and look for the Recurring Transactions.
- Click on Use to use the template as a starting point for a new transaction, below the Action column ▼.
- Check out the steps to control it:
- This type is useful for transactions that have too many details that you do not want to pre-determine but do not require at any given time. An example is complex invoices that require to go to distinctive customers.
- Offers a list of transactions according to the schedule that you have set. Transactions are not allowed to be sent till you choose to create and send them. You can get these reminders in the Tasks section from the top homepage. Click on the View Reminder and later click on the Action column ▼.
- On selecting every task noted above, you will be capable to determine which one to create. Also, you can also review and edit them.
- Reminder type is useful for those transactions that are fixed schedule and need to be edited before created, like utility bills.
- If you are generating an invoice template, make sure that it covers unbreakable charges and automatically send emails.
- If you are working with merchant services, decide if your customer can pay you by selecting/clearing the credit card and bank transfer checkboxes in the online payment section.
Related Read: Setup Automatic Recurring Vendor Payments in QuickBooks
Steps to make any transaction a base template for a recurring transaction
To create a base template for any transaction for recurring transactions, you need to start with an existing transaction and generate a template by choosing Make Recurring (or Enable Recurring Payments).
Steps to editing an existing recurring template
Check out the steps to editing an existing recurring template:
- Go to the Settings ⚙️.
- Click on the Recurring Transactions below the Lists section.
- Now go on the appropriate template, and later choose the Action column ▼ drop-down menu and click on Use.
- Once your transactions are open, perform any necessary changes, later choose to Make Recurring.
Steps to duplicate an existing template
Follow the below steps to create templates immediately for duplicating the existing templates.
- First, click on Settings ⚙ , and later look for Lists, and click on Recurring Transactions.
- Choose the accurate template, then go to the Action column ▼ drop-down menu and click on Duplicate. All the settings excluding the title will be acquired by the duplicate copy.
We hope these above-discussed steps on how to create recurring transactions in QuickBooks Online will be helpful for you. But if you still have any issue or query reading the same or any accounting and bookkeeping issue then feel free to contact us on our toll-free then feel free to reach us on our toll-free +1-855-441-4417 and get in touch with our Intuit Certified Provisors and get quick solutions.