Using Time-Saving Features in QuickBooks 2010
- Dec 16, 2009
- Memorizing Transactions
- Memorizing a Group of Transactions
- Using Memorized Transactions
- Scheduling Recurring Transactions
- Uses for Scheduled Transactions
- Add a Memorized Transaction to Your Icon Bar
- Changing Memorized and Scheduled Transactions
- Removing Memorized Transactions
- Setting Reminders Preferences
- Using Reminders
A memorized transaction is a transaction, such as a check you have written or a form that you have filled in, to which you assign a name. After you name the transaction, you can recall and repeat the transaction without typing all the same information each time, and that makes your work more efficient. When you take the time to create a form that you plan to use again, remember to use the memorization feature to save it. A great side benefit of this feature is that the forms can then be made accessible to other QuickBooks users at your company to simplify their work as well.
If several transactions go together and are used repeatedly, such as a group of bill payments that you make each month or a group of monthly invoices you send to rental tenants, you can memorize all the transactions as a group, and then execute them all together.
Do you want to take this simplification technique one step further? Set up your memorized transactions as recurring transactions and QuickBooks will do the work for you. With recurring transactions, you can have a reminder sent to yourself, letting you know it’s time to execute a transaction, or you can have QuickBooks create the whole transaction set for you automatically. How easy is that? QuickBooks can create invoices, repetitive bills, and purchase orders, or it can enter journal entries for recurring expenses such as depreciation.
In QuickBooks, you can memorize any transaction you want. You can memorize transactions that you re-use frequently or memorize a transaction that you might not use often but that is time-consuming or complicated to create. This task uses an example of a purchase order for several items you frequently order. Consider creating a purchase order for all the items you order from a single vendor. Then, when it’s time to place an order, you just open the memorized transaction and fill in the quantities.
- Select Vendors, Create Purchase Orders.
- Choose or type a name in the Vendor field.
- Enter the items you normally purchase from this vendor, leaving the quantities blank.
- Press Ctrl+M to begin the memorization process, or you can choose Memorize from the Edit menu.
- Type a unique name for this transaction.
- Select Don’t Remind Me.
- Click OK to memorize the transaction.
- Continue using the Purchase Order form if you like. Or, press Esc and select No to close the form without creating an actual purchase order.