Many transactions completed in QuickBooks are prepared on a daily or monthly basis.  Repetition can be a positive part of your business. It builds familiarity with your software and business transactions and saves time and money.  However, when repetitious transactions are done quickly, mistakes can arise.  That's where a memorized transaction can come in handy.  Understanding when and how to use this feature properly is the key to reducing errors in your every day bookkeeping.

When Is It Time to Memorize

Many invoices, rent payments or journal entries are done at the same time every month and use the same dollar amount each time.  Any entry, whether a journal entry, sales transaction or invoice payment, can be made into a memorized transaction as long as it occurs at the same time each month and the dollar amount stays the same.  There are transactions that cannot be memorized such as payroll checks, sales tax payments or time records.

How to Memorize a Transaction 

Memorizing transactions is a three-step process.  The user must either start a new transaction or locate a previously processed transaction to begin.  Once the transaction is displayed on your screen, you can use these steps to complete memorizing a transaction:

1. From the edit menu, select Memorize.
2. Define the transaction with a recognizable name, such as "monthly rent."
3. Choose one of the following options:
   • Remind me - this adds the transaction to the reminders list with the user setting the frequency. 
   • Don't remind me - with this option the user is unable to set the frequency and the item simply appears in the memorized transaction list.
   • Automatically enter - this allows the transaction to be set on a frequency dictated by the user through the creation of a schedule.

Setting Up Reminders       

When setting up a memorized transaction, you may want to set up reminders also.  This will allow users to see the memorized transactions as they are coming due.  To customize this feature, go to Edit on the top toolbar, Preferences and on the left side, choose Reminders.  Once you are on the My Preferences tab, check the box to "Show Reminders List When Opening a Company File." Then click the Company Preference tab and you are able to adjust how many days before the due date you will be reminded of the memorized transaction. 

As a suggestion, choose the Show List column for this option on the Company Preferences tab.  This action will show a popup window when you log in to your QuickBooks Company each day and will continue to show up until you either enter or delete the recurring transaction.

Creating memorized transactions is an easy and effective way to reduce errors, remember frequently run transactions and a way to save time.  QuickBooks makes this process easy to follow and is user friendly, allowing your company to focus on the more important issues...making a profit. 

Written By: Jamie Lambrecht, QuickBooks Certified ProAdvisor

920.684.2556

jlambrecht@hawkinsashcpas.com

You can save time by running multiple reports at once.  Here's how:

1. Go to the reports menu and click on Process Multiple Reports.
2. Click the Select Memorized Reports from the drop-down list and choose All Reports, Ungrouped Reports, or a specific memorized report group.
3. Click in the left column to select the reports that you want to display or print.
4. For the checked reports, you can change the dates for the report.
5. Click Display to view the reports on your screen.  Click Print.

Written By: Becky Doyle, CPP, Advanced Certified QuickBooks ProAdvisor

920.337.4524

rdoyle@hawkinsashcpas.com

Did you know that the quickest way to get an Accountant's Copy to your QuickBooks ProAdvisor is using Intuit's Web server?  It's free and easy.  You no longer have to deal with flash drives, deliver the file to your accountant, or pick up the accountant's changes when they are through with the file.  To transfer the file through an Intuit server follow these easy steps:

1. Go to File / Accountant's Copy / Client Activities/ click on Send to Accountant.
2. When asked if you want to send an Accountant's Copy click Confirm and then Next.
3. Choose a dividing date. If you're unsure what this date should be, consult with your accountant.
4. You will need to enter the following information.
   • Your accountant's e-mail address /re-enter to confirm the e-mail address
   • Your name (so your accountant knows who sent the file
   • Your e-mail address)
5. Choose a password to protect the file.
   • Don't forget to call or send a separate e-mail with the password to your accountant.
   • You can use your log in password for the accountant's copy
6. QuickBooks even gives you the ability to write a note to your accountant if you choose to do so (do not include the password).
7. Click Send. 

Your Accountant's copy is automatically sent to the Intuit server.  Your accountant will receive an email with a link to download your accountant's copy.  You will receive an e-mail from Intuit telling you that your accountant has downloaded the file, has yet to respond to the e-mail from Intuit, or that the link to download  has expired.

Your accountant can send any changes back to you the same way.  You will be the one to receive an email and link from Intuit to download the accountant's changes and merge the two files.

It's effortless to transfer files using Intuit's Web server.  It's a time saving task that you will appreciate using to cross off multiple items from your busy "To Do" list.

Written By: Kristen Herrick, CPA, QuickBooks Certified ProAdvisor

507.452.8313

kherrick@hawkinsashcpas.com

It is important to verify your QuickBooks data.  The Verify Data utility is a tool for detecting transaction damage, list damage and memorized report damage in your company file.

You should run a complete verification each time you back up your QuickBooks data.  You will also want to run the verify utility if:

• You receive an error message when working in QuickBooks.
• QuickBooks shuts down when you click to save a transaction.
• Discrepancies appear on reports.
• Payments that have been deposited show up in the Payments to Deposit window.
• Reports do not show all accounts.
• Names are missing from lists.
• Transactions are missing.
• Transactions cannot be saved.
• You experience power surges, abnormal shutdowns, computer crashes.

To run the verify data utility, click File on the top menu bar, Utilities, then Verify Data.

If QuickBooks detects damage in your file, you will be instructed to run the rebuild utility.  If the rebuild utility does not solve the damage problem, please contact one of our QuickBooks Certified ProAdvisors to resolve the issue.

Written By: Debbie Denny, Advanced Certified QuickBooks ProAdvisor

920.336.9850

ddenny@hawkinsashcpas.com