Accounting Tip of the Month: Use Recurring Transactions to Save Time
If you enter the same transactions every month, automate it. QuickBooks Online’s Recurring Transactions cut manual entry, reduce errors, and keep expenses and income consistent. Many businesses can automate a large share of their routine activity with this feature.
At One 8 Solutions, we see clients save hours each month just by setting this up correctly.
Here’s how to make it work for your business:
- Automate the Routine
Recurring templates can be created for invoices, sales receipts, bill payments, journal entries, and more. Rent, subscriptions, monthly retainers—these are perfect candidates. For many businesses, up to half of their monthly activity could be automated. - Set It Up in QBO
To create a recurring transaction, go to the original form (invoice, journal entry, etc.) and select “Make Recurring.” From there, customize frequency, start/end dates, and whether the transaction should auto-send or just remind you. - Don’t Set and Forget
Recurring entries save time—but only if they’re accurate. Review them regularly to ensure amounts, dates, and memos still apply. For example, if you’re auto-posting a loan payment but the amount changes, you could end up with incorrect balances or misclassified interest/principal.
Recurring transactions are one of the simplest ways to improve accuracy and efficiency in QBO—just make sure you’re reviewing them periodically to avoid costly mistakes.
Want help identifying what to automate and how to do it right? Let’s talk. Schedule a conversation today!
