How to Create a Memorized Transaction in QuickBooks Desktop for Windows & Mac?

How to Create a Memorized Transaction in QuickBooks Desktop for Windows & Mac?

QuickBooks users can create and manage the transactions that occur repeatedly in their accounts. However, as a business owner, it might become difficult to handle transactions from time to time. Fortunately, QuickBooks is there to memorize your transactions. By setting up the memorized transaction in your account, QuickBooks will manage the transactions depending on the preferences you have set. Learn with us in detail how to create a memorized transaction in QuickBooks Desktop.

Furthermore, we will demonstrate how to add the transaction to the memorized transactions group, edit, and delete the memorized transaction. Remember this guide can be followed for both Windows and Mac users.

How Do I Create a Memorized Transaction in QuickBooks for Windows?

Creating the memorized transaction in QuickBooks benefits you in certain ways. For instance, you can never miss out on any transactions because QuickBooks memorizes them for you and reminds you when the transaction is due. There are a few reminder options based on which you can decide how you want QuickBooks to remind you about the transaction.

In the following details, you will learn how to create memorized transactions in QuickBooks Desktop. Along with this, you will learn to create the memorized transaction group if you have several transactions with the same due date.

Create the Memorized Transactions

To set up the memorized transactions in QuickBooks, you have to enter the transactions. Thereafter, you can edit it to set the reminder. After selecting the appropriate reminder option, you can save the details. Let’s know in detail how to create a memorized transaction in QuickBooks for Windows users:

  • First of all, you need to add the transaction in the way you want it to appear every month. Make sure you don’t choose the “Save” button. If any of the fields contain details that require change, you can skip that field. For instance, you can skip the “Memo” field on the recurring check so that you can add a different memo when needed.
  • Moving on to the “Edit” menu.
  • Then, click on the “Memorize [Transaction Name]” option.
  • Here, you can type the “Name”.
  • Once done, you can determine how you would like QuickBooks to handle the memorized transactions. To do so, you can choose any of the following options:
  • Add to My Reminders List: If you choose this option, the transaction will automatically be added to the reminders list on the “Memorized Transactions” page. All you have to do is fill in the “How Often” field to tell QuickBooks how many times you would like to receive the reminders for memorized transactions.
  • Do Not Remind Me: Selecting this option will not add the transaction to the reminder list. However, you can use this option as a template for your transactions that occur from time to time.
  • Automate Transaction Entry: You should choose the option so that QuickBooks can enter the transactions when it is due. While choosing this option, make sure you fill the “How Often” as well as the “Next Date” fields.

Quick Tip: If you choose to set up the automatic schedule for the memorized transactions, remember the Next Date is usually set to the day in the future. In addition, when you enter details in Number Remaining, it also includes the transaction of the Next Date.

  • At this point, you can enter other details and press the “OK” button.
  • Once done, hit the “Save and Next” or “Save and Close” button.

Create a Group of Memorized Transaction

There can be instances when you have multiple transactions but the due dates are the same for all those transactions. In such a scenario, you can simply make a group of the memorized transactions. To know how to create a memorized transaction in QuickBooks, you can walk through the following steps:

  • Go to the “Lists” menu.
  • Then, click on the “Memorized Transaction List” option.
  • Now, choose the “Memorized Transaction” drop-down menu.
  • Once done, click on the “New Group” button.
  • At this point, you can type the details such as a group name and transaction frequency.
  • Select the “OK” button.

By following the aforementioned series of steps, you can create memorized transactions and the group of memorized transactions in QuickBooks.

How to Add a New Memorized Transaction in QuickBooks?

QuickBooks lets you add a new transaction to the memorized transaction group. Even if you have already memorized the memorized transaction group, you can still add the transaction. You can walk through the following steps to know how to add to memorized transaction list in QuickBooks:

Add the New Transaction to the Group of Memorized Transaction

  • To get started, open the transaction you want to memorize. If not available, you can create a new one.
  • Then, click on the “Memorize” button.
  • Select the “Add to Group” option.
  • Click on the “Group Name” button.
  • Press the “OK” button.

Add the Transaction You Have Already Memorized to the Memorized Transaction Group

  • Go to the “Lists” menu.
  • Choose the “Memorized Transaction List” option.
  • Click right on the memorized transaction.
  • Then, select the “Edit Memorized Transaction” option.
  • Click on the “Add to Group” option.
  • After that, click on the “Group Name”.
  • Press the “OK” button.

As you follow these steps, the transactions get added to the memorized transaction group. This feature is helpful when you want to add a new transaction to the existing group of memorized transactions.

Where Do I Find Memorized Transactions in QuickBooks?

If you are wondering where are memorized transactions in QuickBooks, you should pursue the following steps:

  • Navigate to the “Lists” menu.
  • Here, you will see the “Memorized Transaction List” option.

The list of the memorized transactions contains all the transactions you have set up to memorize. If you ever require to make changes to the existing transaction, you can do that.

How to Edit a Memorized Transaction in QuickBooks Desktop?

After you update your transactions and memorize them, there can be occasions when you need to edit certain details in your transactions. Whether you want to update the transaction information or delete the memorize transactions, you can do that by using the following steps:

  • Navigate to the “Lists” menu.
  • Then, click on the “Memorized Transactions List” option.
  • Here, you can click twice on the memorized transaction you wish to change.
  • Now, enter the changes you would like to make.
  • Once done, click on the “Memorize” button located at the top.
  • After this, click on the “Replace” button to update your transaction. You can also click on the “Add” button if you want to create a new one.
  • Here, you can press the “Save and Next” and “Save and Close” buttons.

Besides making changes to the transactions, if you want to remove the specific transaction, you can do that too. All you have to go through the following steps:

  • Click on the “List” option.
  • Here, click on the “Memorized Transactions List” option.
  • From here, you can pick the transaction you no longer want to keep in the record.
  • After that, click on the “Memorized Transaction” drop-down option.
  • Then, select the “Delete Memorized Transaction” button.
  • Press the “OK” button.

By pursuing the aforementioned steps, you can easily make changes to your transactions. Make sure you save the changes once you edit the transaction in QuickBooks. By deleting the memorized transactions, you can remove certain entries you no longer want to keep in your account.

How to Create a Memorized Transaction in QuickBooks for Mac?

The process of creating the memorized transaction in QuickBooks for Mac is slightly different than Windows. If you want to set up the memorized transaction, you should open the transaction and make it memorize by entering reminder options. Remember the reminder will act based on the preference you set. Continue to read how to create memorized transactions in QuickBooks. In addition, you will learn to create the memorized transaction group and how to use it

Create the Memorized Transactions

While creating the memorized transactions, you will have to make sure that you enter the details correctly. Depending on the preference you set for the reminder, QuickBooks will remind you of the transactions. Here are the detailed steps:

To get started, open a transaction that you wish to memorize. If required you can create a new one. Then, enter the details for the transaction.

Note: If the fields often change per transaction, you should leave them blank. For instance, if the utility bill expense keeps changing every month then you can skip the Amount field.

  • Now, you can click on the “Edit” menu.
  • Here, choose the “Memorize” button.
  • Then, enter the memorized transaction details. The following are the options you need to fill:
  • How Often: In this field, you need to mention how many times QuickBooks should remind you of the transaction.
  • Remind Me: Here, you can enter the transactions to the “Reminders” list.
  • Automatically Enter: Using this option, QuickBooks will automatically start recording the transaction whenever it is due.
  • Next Date: The transaction date is usually the next date in the future.
  • Number Remaining: Here, you can enter the number of times the transaction should be recorded. For instance, if it is a loan transaction then you add the number of payments that have been left.
  • Days in Advance to Enter: In this section, you should all the days in advance that you wish to add the transaction.
  • With Transactions in Group/Group Name: Here, you can enter the transaction to the “Memorized Transaction Group”.
  • Show in Calendar: If you want the reminder to show up in the calendar, mark the option.

Create the Memorized Transactions Group

If you spot more than one transactions that are with the same due date then you should put them in the memorized transactions group. Let’s find out how to create a memorized transaction in QuickBooks:

  • Select the “Lists” menu.
  • Now, click on the “Memorized Transactions” option.
  • Then, choose the “Create +” button.
  • When you move to the “Name” field, add the name for the memorized transaction group. Make sure you include the word “group” in the name to avoid confusion.
  • After this, you can enter the details for the “Memorized Transaction Group” option.
  • Press the “OK” button.

Use the Memorized Transaction

Now that you have set up the memorized transaction, you know how to use it. For this, you need to open the QuickBooks settings. Let’s see how it works:

  • Navigate to the “Lists” option.
  • Then, choose the “Memorized Transactions” option.
  • Here, you can pick your memorized transaction.
  • After this, go to the “Settings” icon.
  • Then, press the “Use” button.
  • If required you can make changes to the transactions.
  • Once done, hit the “Save” button.

This is how you can create the memorized transactions, put the transactions with the same due date in a group, and use the memorized transaction in QuickBooks Desktop for Mac.

How to Add to Memorized Transaction List in QuickBooks?

If you want to add a transaction to the memorized transaction group, QuickBooks makes it possible for you. All you have to do is edit the transaction and add it to the group. You can walk through the following steps to know how to add to memorized transaction list in QuickBooks:

  • Choose the “Lists” menu.
  • Then, click on the “Memorized Transactions” option.
  • From here, you can pick the memorized transaction.
  • Click on the “Edit” menu.
  • Press the “Edit Memorized Transaction” button.
  • Now, you can click on the “With Transactions in Group” option.
  • Then, choose the group using the “Group Name” drop-down menu you wish to add.
  • Click the “OK” button.

As you perform these steps, the transactions will be added to the group. If required you can edit the details in the future.

How to Edit a Memorized Transaction in QuickBooks Desktop?

As stated earlier, you can make changes to the transactions when needed in the future. Even if you don’t want to keep a specific transaction, you can delete them from the record. Here, you will learn how you can edit and delete the memorized transactions:

Click on the “List” option.
Choose the “Memorized Transactions List” option.
From here, you can select the memorized transaction.
After that, click on the “Edit” button.
Click on the “Edit Memorized Transaction” option.
Here, you can apply the changes to the memorized transaction details.
Once done making changes, click the “Save” button.
If you want to remove the transaction then select the “Delete Memorized Transaction” button.
Press the “OK” button.

These steps will allow you successfully edit or delete the memorized transactions in QuickBooks Desktop for Mac.

To Sum Up

There are many benefits of using memorized transactions in QuickBooks. This helps you not to skip any transaction when it is due. With the smart features provided by QuickBooks, you can automate your transactions as well. In this guide, we have taught you how you can create the memorized transactions, add transactions to the group, edit the memorized transactions, and delete them. This will help you to know better about memorized transactions in QuickBooks.

Know more about Cash Disbursement Journal and downloading Chase bank statements in QuickBooks:

  • How to Create a Cash Disbursement Journal in QuickBooks?
  • How to Download Chase Bank Statements into QuickBooks?
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