I had a client who is in a Childcare business; monthly, he has to create hundreds of invoice to his client for the monthly childcare fee of their child who stays in his centre. The recording of the monthly invoices have taken up too much of his time and often mistake can be make.
How QuickBooks can help?
We can use a memorized transaction feature in QuickBooks to memorize the invoices and set it up as a standing order (in US version it is call Automatically Enter).
Upon creating the first invoice to your client, you can memorize it as a memorized invoice and set the option to Standing Order with the setting such as:
- How Often: Monthly
- Next Date: 01-04-2010 (Date of the next invoice)
- Number Remaining: 23 (24 months less the current invoice)
In the following month, 1 Apr 2010, once you launch QuickBooks and open up the company file, QuickBooks will prompt you to record the Standing Order.
Monthly, QuickBooks will automatically record the transactions until the Number Remaining is zero.
QuickBooks will ‘off load’ your monthly task in creating invoices to your client and you will have more time to focus on other operating stuff.