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Repeat -- Repeat -- Repeat!

Pen, financial sheet, and calculatorMemorizing transactions in QuickBooks eliminates unnecessary data entry, as well as those yellow Post-it® notes all over your computer monitor. Rent payments, automatic bank withdrawals and recurring customer invoices can be created once and then used over and over again.

The Memorize Transaction feature in QuickBooks gives you the choice to remind you, don't remind you or automatically enter the transaction for you.

To Memorize a Transaction

In order to memorize a transaction, you must start by either creating a new transaction or locating an existing one. With the desired transaction displayed:

1. Select Memorize [Transaction Type] from the Edit menu. Or as a shortcut, click Ctrl M simultaneously.

2. Enter a name for the transaction that will define its content, such as "Monthly Insurance Deduction."

3. Select from one of the following options:

QuickBooks - Memorize Transaction

Here are some explanations for the options:

Add to my Reminders List

Adds transaction to Reminders List in the Company Menu.

User sets frequency

Do Not Remind Me

Appears on the Memorized Transaction List.

User cannot set frequency

Automate Transaction Entry

QuickBooks enters the transaction based on the desired frequency.

See Create a Schedule

Add to Group

QuickBooks enters transaction as part of a transaction group.

See Memorized Transaction Group

4. Click OK to memorize the transaction.

Create a Schedule

By selecting Automatically Enter, the following options are available in the Memorize Transaction window:

QuickBooks - Memorize Transaction
  • How Often lets you choose frequency from daily to annually (and many other choices in between).
  • Next Date defines the start of the automatic transaction process.
  • Number Remaining indicates how many more will be automatically entered (Note: If the number is reduced to zero, automatic entry of this transaction ceases. If this field is left blank, the entry will continue indefinitely).Taboo ListSome QuickBooks transactions cannot be memorized. They include:• Deposits of customer payments against invoices• Vendor bill payments• Payroll liability checks• Time records• Sales tax payments• Sales tax adjustments• YTD payroll adjustments
  • Days In Advance to Enter records the transaction prior to the scheduled execution date. The actual date of the transaction remains the scheduled date.

Memorized Transaction Group

A Memorized Transaction Group can also be created and individual memorized transactions can be included in the group. To set up a memorized transaction group:

  1. Choose Memorized Transaction List from the Lists menu.
  2. Click the Memorized Transaction button and choose New Group.
  3. Enter a name to identify the group of transactions, such as Monthly Retainers.
  4. Choose the desired schedule for the transaction group.
  5. Click OK.

To assign other memorized transactions to the group, it is necessary to edit each memorized transaction as shown below and add it to a group.

Edit a Memorized Transaction

Often, the amount or details of a memorized transaction will change. To edit an existing memorized transaction:

  1. Double click the memorized transaction in the Memorized Transaction List.
  2. Update the transaction with the new information.
  3. Select Memorize [Transaction] from the Edit menu.
  4. Choose Replace to update the existing transaction, or Add to create another memorized transaction.
  5. Click OK.

Close the transaction window, but do not save the entry.

Edit the Timing of a Memorized Transaction or Transaction Group

If the schedule or timing of a memorized transaction or transaction group changes, do the following:

  1. Click once on the memorized transaction (or group) in the Memorized Transaction List.
  2. Click the Memorized Transaction button and choose Edit.
  3. Make desired changes and click OK.

Contact us if you have questions about the Memorize function in QuickBooks.

Let us know how we can help.

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