Set Up Recurring Payments in QuickBooks

How to Set Up Recurring Payments in QuickBooks Desktop for Credit Card/Vendor?

Users can set up recurring payments in QuickBooks when they want the vendor to be automatically paid. This feature can provide an added benefit if the vendors are to be paid on a frequent basis. The recurring payments setup can be done on QuickBooks and its Desktop version. You will find the Sales Receipt option helpful while performing the process in the accounting software. If you want to know how to set up recurring payments in QuickBooks Desktop, then you can undoubtedly choose the Recurring Transaction button. You can also set up recurring credit card payments and vendor payments by making use of the Processing Tool tab or the Transactions menu in QB.

The post will showcase more information on the need for setting up recurring payments in QuickBooks. The methods to set up the payments in QuickBooks and QBDT have also been given. Additionally, the setup for credit card payments and vendor payments will also be discussed.

Reasons to Set Up Recurring Payments in QuickBooks

QuickBooks can be considered the best software for using recurring payments. Its recurring payment feature can help companies to pay the vendors on a planned basis. As the recurring payments are automatic, it eliminates the probability of errors that may occur during data entry.  

Various other reasons explaining why or when can you set up recurring payments in QuickBooks are mentioned below:

  • An automatic recurring payment can be set up. Thus, you will not have to put in any manual effort.
  • Recurring payments in QB can help save a user’s time.
  • The operations of a company can run smoothly with this setup.
  • The vendors can be provided with the required amount on time every month or as needed.

How Do I Set up Recurring Payments in QuickBooks?

You can set up recurring payments in QuickBooks by taking the help of the Sales Receipt tab. You need to choose the Gear menu to find this tab. Then proceed by clicking on the Recurring Transaction option. Accompanying this, use the New button. Search for Sales Receipt below the Transaction Type tab. Later, the Ok option is to be selected to keep setting up the payments.

Know how to set up a recurring payment in QuickBooks with these directions:

  • Select the “Gear” icon on the “QB” program’s window.
  • Use the “Recurring Transaction” button.
  • Click on the “New” tab.
  • Below the “Transaction Type” menu, please find “Sales Receipt”.
  • Press “Ok”.
  • Now, type in the template’s name.
  • From the “Habitual Type”, select “Scheduled”.
  • Choose “Customer”.
  • In the section of “Interval”, opt for “Monthly on the Day First of Every Month”.
  • Enter the beginning and ending date appropriately.
  • Also, pick the payment mode.
  • Once you have followed the prompts, tap on “Save Template”.

After saving the template, the setup of recurring payments will be complete. You can start adding the payments to pay your vendors.

Read More: It can be helpful to be familiar with the import of your transactions in your accounting software. To see how you can import bank transactions into QuickBooks, check this post.

How to Set Up Recurring Payments on QuickBooks Desktop?

For setting up the recurring payments, you can open the Settings/Gear icon of the software to see a direct option. You will see Recurring Transactions in the settings. Next, choose the New tab from here. After that, from the menu of Transaction Type, you are required to change it to Sales Receipt to continue to set up recurring payments in QuickBooks Desktop. 

Follow the steps below to accurately execute the procedure: 

  • Visit “QuickBooks Desktop”.
  • Reach the “Gear” tab at the top of the screen.
  • Click on the “Recurring Transactions” tab.
  • Then pick “New”.
  • In the “Transaction Type” menu, change to “Sales Receipt”.
  • Next, press “Ok”.
  • Type the template’s name.
  • From the “Recurring Type” tab, select “Scheduled”.
  • Opt for a customer.
  • In the section of “Interval”, you need to choose “Monday” to make it the first day in each month.
  • Mention the following:
    • “Start Date”
    • “End Date”
  • Choose the accurate mode for “Payment”.
  • Fill up all the required information to go ahead with the setup.
  • Tap on “Save Template”.

Now that the template is ready, you can begin using it.

How to Set Up Recurring Credit Card Payments in QuickBooks?

QuickBooks users can set up recurring credit card payments by availing of the Processing Tools option. You need to log in to QB and choose this button. Then go to the Create a Recurring Payment tab. Also, type the customer’s name in the search area. Further press the Add New option and you will be closer to setting up the recurring payments of credit cards.

The remaining steps will make you learn how to set up recurring credit card payments in QuickBooks:

  • Login to “QuickBooks”.
  • Select “Processing Tools”.
  • Press “Create a Recurring Payment”.
  • Look for your customer by searching in the provided bar.
  • In case the customer is new, tap on “Add New”.
  • Enter the needed details.
  • Head to “Next”.
  • Confirm the details and the payment terms along with the authorization form that is signed.
  • Move to “Edit” if any changes are to be made.
  • If everything is correct, click on “Submit”.

Tip: This method is also suitable to set up recurring payments in QuickBooks Enterprise Suit for credit cards.

Read More: Expensify integration with QuickBooks can make your work easier. To find out how, go through this blog.

How to Set up Recurring Vendor Payments in QuickBooks?

Users may undergo difficulties when they do not know how to set up recurring vendor payments in QuickBooks. They can easily set them up via the Transactions tab in the Intuit software. This tab can be reached by choosing the Vendors option in QB and then moving the Vendor Center menu. After that head to the Transactions option and choose Checks.

After selecting checks, these directions will lead you to set up the recurring vendor payments in your QB account:

  • Select the “Vendors” tab after opening “QuickBooks”.
  • Press “Vendor Center”.
  • Next, use the “Transactions” button.
  • Pick “Checks” in the fourth direction.
  • Now, click twice on the check that is to be memorized.
  • Visit the “Check” page.
  • Use the “Edit” tab.
  • Tap on “Memorize”. Or, you may press the following keys: 
    • “Ctrl” key + “M” key
  • Push the “Memory Check” option.
  • Clicking on “Reminder” is needed.
  • Then choose the frequency among these options:
    • “Daily”
    • “Weekly”
    • “Monthly and More”
  • From the section of “Next Date”, opt for the date for the upcoming payment.
  • Next, pick the payment number that the program should enter from the “Number Remaining” section.
  • Also, select the number of days for recording the transaction in the field of “Days in Advance to Enter”.
  • In this step, you have to tap on “0” in case you want the posting to be done on your chosen date.
  • Hit the “Ok” button.
  • Then go back to the window of “Write Checks”.
  • If you want to make it an autopay, you need to modify the number of the check for “Epay” or “Auto Payment”.
  • To save it, press “Save and Close”.

In All

Recurring payments can act as an advantage for users who pay certain amounts on a frequent basis. To assist such users, this page provided the process to set up recurring payments in QuickBooks and QBDT. In addition to that, the post highlighted the methods to set up the recurring credit card payments as well as vendor payments in the software.

Let us also see how to record a transfer between accounts in QuickBooks. For finding out about gross receipts in QuickBooks, this post can be referred to.

Leave a Reply

Your email address will not be published. Required fields are marked *