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hughesteresam-gm
February 4, 2022
Solved

Can you set up a recurring monthly journal entry?

  • February 4, 2022
  • 2 replies
  • 0 views
i want to record depreciation monthly
Best answer by GeorgiaC

Hi hughesteresam-gm, thanks for joining us on the Community - if you're using QBO Essentials or Plus, you can create recurring transactions by selecting the settings wheel > recurring transactions > see option for journal entry on the drop-down. If you're using QB Simple Start and would like this feature, you can upgrade your subscription anytime without losing any data. 🙂

2 replies

G
GeorgiaCAnswer
February 4, 2022

Hi hughesteresam-gm, thanks for joining us on the Community - if you're using QBO Essentials or Plus, you can create recurring transactions by selecting the settings wheel > recurring transactions > see option for journal entry on the drop-down. If you're using QB Simple Start and would like this feature, you can upgrade your subscription anytime without losing any data. 🙂

Fiat Lux - ASIA
Fiat Lux - ASIA
February 4, 2022

@hughesteresam-gm 

Consider having a specific 3rd party app for this purpose. It costs GBP 15/month to integrate with one QBO account. It calculates the monthly depreciation and current value of your assets. It will also post the necessary journal entries to keep your balance sheet and profit & loss accounts up to date in real-time. By establishing a connection to QBO, it can detect new asset additions and add these to the register automatically. When new transactions are added to your specified account categories, they are scanned and used to generate new assets. All standard depreciation techniques are available, along with customizable asset life-spans. For those who need something different, you can create your own rules. It offers many other features to utilize e.g balance sheet checks, depreciation forecast, disposal handling, year end processing, etc.

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