Now let's get started with the exercise. Here is the full scenario:
Your client, Craig, asked you to help him set up a recurring insurance expense. \[Sic - Intuit has "insurance" listed here, but that is a typo. It is actually a monthly rent payment.\]
Here’s what you need to know:
- Craig has a new landlord, EDD
- He has arranged to rent some warehouse space from EDD and will pay the rent on the first of each month
- His monthly rent for the space is $500 and he’ll pay it from his checking account
Here’s what you need to do:
- Set up a recurring monthly rent payment for EDD
- Configure the transaction to happen on the first of each month, starting next month
- Name the recurring transaction EDD Warehouse Space Monthly Rent