Hey, it's Candus and in today's QuickBooks tips and tricks,
I'm gonna teach you about memorize transaction.
So this can save you a lot of time.
But you got to make sure you set it up properly
and then if you ever need to go in and change it,
there's a few little tip, tips and tricks I'm gonna teach you today
So come look over my shoulder, and I will teach you how,
alright, I'm gonna teach you how to
do memorized transaction, so
the times you're gonna want to use a memorized transaction is say that
every month you transfer money from
your checking to your savings, it's a requirement for your bank account,
let me show you what you would do,
you go under banking.
This is an example
of how you could use a memorized transaction
So let's say that today,
we are moving money from one bank account to the other.
For $25.
What we would then do,
let's say that we wanted to change this transaction,
and we wanted it to be the 31st of every month, it happened.
So I'm gonna go back to March, and I'll show you
what would happen in April, again,
what you're gonna do, is you see, there's no way for you to
click memorize transaction here,
what you do is you go under edit,
memorize,
transfer,
then you give it a title, you decide what you want to call it.
What you have to be careful of
is QuickBooks will only let you type so much.
So you have to,
you might have to abbreviate something or
however you want to do it,
then you'll notice there are
three options to the left, there is
put on a reminders list.
Do not, Do not remind me or automatic
transaction, automate,
I can't even talk to... Automate transaction entry.
What does this mean? The first one, it puts it into your reminders list,
which you can get to from up here, company reminders,
do not remind me means it just automatically puts it in,
it doesn't even ask you any questions
and the automated one, what it allows you to do, which is my favorite,
is
when you decide how often it'll actually pop up every time you open up your QuickBooks.
and it will say, hey,
are you ready to enter this transaction? So that's what I'm gonna show you right now.
automate the transaction entry.
How often?
never
is what you could do, if you want to remove it, basically, you get rid of it,
we're gonna do monthly
and we're gonna say we want the next one on April 30th.
Technically, I'm going backwards just for the example,
if you want remaining
numb... This, so basically the next day is,
when do you want it to happen next. So if you're,
creating your transfer in the month of May,
and you want the next one to happen in the month of June,
I recommend picking June.
But for the example purposes, I'm going backwards and picking April
number remaining, this is if you only want it to happen, say six times,
you could put six in there.
If you wanted to keep happening
an indefinite number of times,
as of this moment you leave that blank,
then it says days in advance to the entry.
How many days in advance, do you want to ask,
you can put 10 days ahead of time,
a day ahead of time, or you can leave it at zero.
This example gonna leave it at zero so that
when April 30th comes along, and I open up my QuickBooks,
it's gonna remind me
about it.
If you're using this,
you can use this
in all areas of QuickBooks.
If you're using this for say, enter bills feature,
you may want to do this a couple days in advance.
So go ahead and click OK
and click Save and Close.
So now let's go into our checking account
and I will show you, where it shows, how it shows up.
So we go into our checking account, we go up to the march 31st
and you'll see there's a transfer transaction.
Now say
the day's happened,
and a month has gone by and I'm logging into QuickBooks for the first time,
just as an example to show you what will happen.
You log into your QuickBooks.
And as soon as you log in, there'll be a screen that pops up
that says hey,
here, there's a memorized transaction, Do you want to enter it?
and you have a choice.
See, here it is.
Enter memorized transaction.
You have one memorized transaction to enter below and there's a checkmark.
When you check it, which will automatically be checked.
There's a little button down here it says enter
checked now.
So this are all the checked transactions.
You want to make sure that you're like okay, yep,
it transferred from here to there.
Yep, yep, yep, everything looks good.
You can choose to enter later if you want, but I'm gonna go ahead and enter now.
It lets you know that it entered it
Now,
if I go into that same check, my checking account,
I have the accountants version. So there's a couple extra screens coming up but
you click on the checking register, you go into the checking account
and you'll see there's April 30th
$25.
It'll save you from having to go in and do it if you have the same transaction every month.
That's one way to do it.
The one thing to know is if you go under list,
memorize transaction list.
There it sits right here if you ever want to get rid of it
or change it.
If you Double click on it,
it will open up the transaction.
Okay?
If you
click Edit,
it looks like I accidentally added an extra in, I can actually change that.
So you click Edit, you can change the title,
you can change how it reminds you to do it,
how often and the date.
Okay,
but you cannot change the actual transaction,
you can double click on it
and save another one, and it will automatically have the date in here.
And you can change it but you can't re-
change everything in here and
assume
that it will stay changed in the next transaction, what you do
is you go into this transaction, the memorized,
you delete it,
go back and create a new one, save the dollar amount changes,
and you change
and create a new memorized transaction,
okay.
You can only change in the memorized transaction, see,
by me saving that now it's trying to go all the way out to July.
So say I want to go back and I want to use it from May 31st,
I would create that
and click OK.
But that's all you can change in here is
how it puts it in,
what it, the title is called for it,
and how often it happens.
Okay.
Let's give you another example.
So that was a transfer, you can do the same thing inside checks.
You can click memorized here, or you can go back under edit,
and click memorize check once you create it.
I often have clients who do loans,
that way.
The thing to remember is if you do a loan, you need to make sure
each time you go in and change your interest and principle for the loan,
or it will be off at the end of the year.
The other thing you can do is you can actually memorize
invoices.
So say you do
you provide a service
or product and you bill your customers once a year say it's a maintenance contract,
what you can do is you can click memorize, you can go in here and click annual
or quarterly
and what it will do
is you can put all your information in and QuickBooks will remind you next year
to go ahead and bill the customer or if you
do a monthly service charge
for a service you provide, you can actually choose to do it monthly.
So that could save you some time,
I would recommend doing the automated,
but it'll remind you
and I recommend
putting in say monthly, quarterly or annual
and the next date that you want to do it.
Alright, So hopefully that saves you guys time.
Just remember, if you ever want to change the transaction,
you actually need to re memorize it,
then go up to list
and go to memorize transaction list and
this only changes a couple things.
Alright, we already talked about that.
The one other thing I will tell you is you can actually memorize reports.
So say that it there. If you go under report, you'll see there's
memorized reports, there's all different kinds of reports already in here.
And at any time, if you customize a report,
and it's just the way you want,
whatever that is,
I'm just gonna pick a report,
you can go up here to memorize that report.
This is what it's called.
This option allows you to save it to a specific group up here,
if you want.
So we'll click that off. That means it will not save it to a group
and then this is share the report or template with others. So we just click OK.
Then when you go back up here,
you'll see
it's right down here, profit and loss.
I've done some other examples in the past for different trainings.
Then when you go to click on it,
it will pull it up exactly what you want, depending on
so this one, I customize the look and feel I taught this in my course before.
So anyways, that's how memorized transactions work.
You can use them for invoices, you can use them for
reports,
you can use them, they just memorize that report.
You can use them under enter bills,
every feature pretty much QuickBooks has,
you can memorize it,
just make sure
it's a good feature but don't overuse it.
Because what will happen is you might end up getting entries you don't really need.
I only recommend using it
if you do the same thing
every month.
Otherwise, just go in and create the transaction.
Alright, because like for doing loans,
sometimes going back in and remembering to change the interest in principle can become a pain.
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