Q: What is the best way to set up a recurring monthly charge (ie, a rental payment from a tenant) when no invoice or statement is actually sent to the customer?
A: Statements are to be used when you want to send a detailed or summarized list of tenant’s money due and received. You can always print invoices or statements and mail them or you can email them.
To set up a recurring monthly charge, memorize the invoice with the charges. Memorizing the transaction will save you time as you do not need to reenter all of the information each month.
Enter the transactions as you would like it to be memorized. If certain content will change each time you reopen the transaction, leave those fields blank. Right-click on the transaction and select the option to memorize it.
Select Automate Transaction Entry: Have QuickBooks automatically enter the transaction for you. Specify how often the transaction should be entered and the next date the transaction should be entered.
Open the Memorized Transaction List under Lists on the Menu Bar. You can open the invoice from the list. This will save you many hours entering rent invoices for each tenant each month!