Hello again PMoore1,
The recurring transactions feature in QuickBooks Online has a myriad of advantages. Not only does it save you time, but it also makes your cash flow more predictable. Let me go over how to set up recurring transactions to meet your business' needs.
While setting up recurring transactions you have the option to set them up on a schedule. This creates a series of transactions according to your schedule, which can be sent automatically via email. By setting up your schedule to have your transactions sent on the first of every month with the terms set to Net 30, you'll be covering each month of continued service until your specified end date. While there isn't a specific function that allows you to include a service period, the settings that exist on the recurring transactions form should do the trick.
Follow these steps to set up a scheduled recurring transaction:
- Navigate to the settings Gear.
- Select Recurring Transactions under Lists.
- Select the New button.
- Choose the type of transaction that you want to create and press OK.
- Enter a name for your template.
- Choose a Type: Scheduled, Unscheduled, or Reminder. I recommend Scheduled for your needs.
- Under Interval, select Monthly, on the 1st day of every 1 month(s), and specify your start and end dates.
- Set your terms as Net 30 so that the customer knows how long they have to pay you for the services provided.
- Enter other remaining fields and Save template.
Here are some articles that go over this process and explain it in more detail:
I'll be on standby should you have any follow up questions. Hope this helps!
