There are actually two ways to do this:
1. Select the invoice you want to duplicate and click on Edit on your menu (or right click) on the invoice and select "duplicate invoice". Voila - you have a duplicate invoice.
2. Same as above, but instead of duplicate invoice select "memorize" invoice. A dialog box will come up asking you (among other things) "how often" to which you can select the appropriate time period (in your case it would be annually). You can then choose to either remind you when the invoice comes due or QB can automatically enter the invoice.
Hope this helps
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