Use Recurring Transactions in QuickBooks Online for Every Monthly Bill

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Index
1:25 Start of video, going into recurring transactions
1:38 Entering a recurring bill as the recurring transaction
3:08 If the bill is different each month add in to the description as a reminder
4:29 A negative past due date means its not due yet
5:05 Seth does this process for any monthly bill he receives, and in
order for him to check that he goes into reports, expenses by vendor summary
6:43 Showing partially paying a bill
8:36 Seth making it easy for clients to approve bills so he can pay them with
Bill.com
9:16 This process will normalize your bill posting also
9:58 Seth explaining the full process of how QuickBooks will post the bill for you,
of course after your approval of the transaction when it goes through
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[@derpina8330]

wow. what an amazing coincidence. Been searching for awhile on how i could do this and I stumbled on to this just minutes ago. Life saver!!! thanks

[@nerdenterprises]

So glad this helped. I had published it a while back but forgot to make it public :P

[@AndrewPumariega]

@@nerdenterprises I'm in the process of switching over to Quickbooks Online and I have a question I was hoping you could answer for me. All of my customers are set up on a recurring invoice. My old software allowed me to set up my customers on automatic payments. So for example, on the 1st of every month, all of my customer's invoices would generate and if the customer was on autopay the credit card would automatically be charged and would pay off the recurring invoice. From what I can tell, this is not possible in Quickbooks Online. It appears the only option is to create a recurring sales receipt, however, this will not work for me because if the payment doesn't go through there will be no record of the charge... I think at least.... Is there a way to set up recurring invoices on auto-pay and if not is there a workaround that would work for my situation? Thanks in advance.

[@nerdenterprises]

@@AndrewPumariega You can definitely set this up in QBO. You will need to sign up for QuickBooks Payments (easy to do from within QBO Settings) and then you can enter the credit card info to the recurring sales receipt. It has to be a sales receipt, because with an invoice, payment is a separate transaction. If a payment fails you will get a notification. It is also very easy to manage your merchant account from within the QBO settings.

[@solomon1486]

Same, but 4 years later lol. Thank you Nerd!

[@flyingmirrors6431]

Really useful. Thank you!

[@nerdenterprises]

Thank you! So glad you found it useful!

[@toddchristiansen3123]

Good video. Do you add in all transaction to Quickbooks using this method or with only bills?

[@nerdenterprises]

This is only for cases (like rent and other monthly expenses) where you want to make sure the expense shows up on the right date regardless of when it was paid. This is also for accrual basis reporting, which is how you want to look at it, even if you file taxes on a cash basis.

[@Dana-gt7nf]

If there is an auto pay and the amount is the same every month (i.e. a quickbooks online subscription) would you still use this process?

[@nerdenterprises]

I might. My main concern is getting the expense to show up in the right period. If they Autopay is set up near the end of the month, then depending on the number of days and how the processing of the autopay is setup it could land in a different month. So this process ensures that the expenses are recorded in the right period (not necessarily when paid).

[@noormotani9719]

I want to access recurring list using keyboard. Rather than using the gear icon. Using the gear icon is too long and also you have to exit what ever screen you are on. I want to jump on the recurring list from wherever you are in quickbooks online.

[@nerdenterprises]

Best thing to do is create a bookmark in your browser directly to the recurring transactions list. It's the same URL no matter what company you're in.

[@noormotani9719]

@@nerdenterprises I am not sure how to bookmark while you are in quickbooks online. I need to check if I can find a video on this.

[@nerdenterprises]

@@noormotani9719 The bookmarking is done in your browser. QuickBooks Online runs in your browser. So the same way you would bookmark any website or page on the internet, you browse to your Recurring Transactions list and bookmark that page.

[@thedohhh]

The man!

[@nerdenterprises]

Thank you! Some people think of me as "The Nerd" 🤓

[@thedohhh]

@@nerdenterprises 😂🤣