You can set up auto debit in QuickBooks by following these steps:
1. Create a Customer
- If you haven't already, create a customer profile in QuickBooks.
- Make sure to include the customer's bank account information.
2. Go to the 'Banking' Tab
- Select 'Banking' from the menu bar.
3. Choose 'Make Deposits'
- Click on 'Make Deposits' from the options available.
4. Select 'Recurring Deposit'
- From the drop-down menu, choose 'Recurring Deposit.'
5. Fill Out the Recurring Deposit Information
- Enter the customer's name, the amount of the deposit, the deposit schedule, and the bank account information.
6. Confirm and Save
- Review the information and click 'Save' to finalize the setup.
7. Authorize the Bank
- You may need to authorize QuickBooks to access the customer's bank account. Follow the on-screen instructions to complete this step.
Once the auto debit is set up, QuickBooks will automatically debit the customer's bank account on the specified dates.
Example:
Let's say you are a gym owner and want to automatically collect monthly membership fees from your customers.
- You would create a customer profile in QuickBooks for each member.
- Include their bank account information.
- Set up a recurring deposit for each member, specifying the monthly fee amount and the date it should be collected.
This way, you can ensure that you receive your membership fees on time without having to manually track and collect payments.
