That's one great question, @jgraveran. Thank you for posting it here.
Let me help you clear things up about creating a memorized invoice transaction.
The created memorized transaction won't automatically send itself to your customer. This feature is to help you remember to create that transaction on a specific date, or there will be an automatic entry of the transaction.
Check out this article for more info: Create, edit, or delete memorized transactions.
And yes, you still need to tick the Email Later tab to send invoices in batches.
If you want to learn how to modify sales form templates, you can read this article: Use and customize form templates.
For additional questions about managing your invoice transactions, leave a reply below. I'll be willing to help. Keep safe, and have a good day.