Do you ever get tired of entering the same transaction over and over? QuickBooks’ Memorized Transaction feature can help you save time by automatically recalling a frequently entered transaction so you don’t have to always enter all the data every time you need to record the transaction. What’s great is that the Memorized Transaction tool can work with many different types of transactions (invoices, bills, checks, etc.).

How memorized transactions work

If you frequently enter the same line items on a transaction, you can memorize the transaction so that you won't have to re-enter it each time. For example, you can memorize your monthly utility bill.
If the amounts on the transaction do not change (for example, if you always pay the same monthly rent), you can fill in all the details for the transaction and can even have QuickBooks automatically enter the transaction for you.

If the amounts or other details sometimes change, you can enter the memorized transaction and leave some of the fields blank. When you want to use your memorized transaction, just choose it from your Memorized Transaction list. You can then edit it as needed.

Here are the steps for entering a Memorized Transaction:

1. Enter the transaction as you'd like it memorized. If the content of certain fields will change each time you recall the transaction, leave those fields blank. For example, you might want to leave the Amount field blank on your monthly utility bill. That way, you can fill in the amount each time you recall the bill.

2. Go to the Edit menu and click Memorize.

3. In the Memorize Transaction window, enter a name that will help you recognize the transaction on the Memorized Transaction list.

4. Choose whether you want to be reminded to enter the transaction, have QuickBooks enter the transaction for you, or neither.

5. Click OK to memorize the transaction.

6. If you are only entering the transaction information for future use, close the transaction window by clicking the Clear button and then clicking the close box at the top of the window.

An incredible amount of time can be saved by using this tool. Additionally, it can be used as a reminder so that necessary transactions aren’t missed.

If you would like more information about the Memorized Transaction tool in QuickBooks, or any other QuickBooks functions please contact our QuickBooks Pro Advisor Dawn Boehmer, at 847-526-1040.