Are you a property owner or manager who is using QuickBooks to manage your properties? Take a peek at our response to a question one of our clients recently asked about recurring charges. This information is sure to save you time.

Q: What is the best way to set up a recurring monthly charge (i.e., a rental payment from a tenant) when no invoice or statement is actually sent to the customer?

A: Statements should be used when you want to send a detailed or summarized list of a tenant’s money due and received. Print and mail invoices or statements–or you have the option of emailing 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 re-enter 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 re-open the transaction, leave those fields blank. To memorize, right-click on the transaction and select the option to memorize it.

Then select Automate Transaction Entry and specify how often the transaction should be entered and the next date the transaction should be entered.

To view, open the Memorized Transaction List under Lists on the Menu Bar.  You can open the invoice from the list. Following this procedure will save you many hours entering rent invoices for each tenant each month!