QuickBooks Video Tip: Using QBO Memorized Transactions

| 1 min read

QuickBooks Video Tip: Using QBO Memorized Transactions

In this QuickBooks video blog we will go over using memorized transactions in QuickBooks.  If you use this feature properly is can really boost your efficiency in QuickBooks.  It can also help to automate your invoicing, accounts payable and automatic payments, all of which will help you get a better handle on cash flow.

What types of QuickBooks transactions can you memorize?

All sorts of transactions can be memorized in QuickBooks including invoices, bills, checks etc.  If you charge your clients a monthly service fee, memorizing invoices on a monthly basis and having them automatically post can be crucial to speeding up your AR process and improving cash flow.  If you have automatic payments that hit your checking account such as mortgages or utilities it is a good idea to memorize them and have them automatically post in advance.  If you automatically post memorized transactions in QuickBooks you can really begin to use Quickbooks as a cash flow tool

How do you memorize a transaction in QuickBooks?

There are three different ways that I am aware of to memorize a transaction in QuickBooks: hit Ctrl+M, click Edit/Memorize (invoice, bill etc. depending on transaction you are working on) or right click somewhere on the transaction and select memorize.  This will bring up a memorized transaction box where you can give the transaction a name, have it automatically enter or not and customize the details further.  

The memorized transaction list

The memorized transaction list will show you all of the current transactions you have memorized.  This list shows the transaction name, type, source account, amount, frequency, automatic or not and next date.  You can edit the details of any transaction by right clicking on the transaction and selecting edit memorized transaction.  You can also delete the memorized transaction by right clicking on it.  Note that you cannot edit the amount of the memorized transaction by editing the details.  You can double click on the transaction to open it, change the amount then memorize and replace the transaction, which will update the amount of the memorized transaction.

Are you using QuickBooks memorized transactions?


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