March 9, 2020

Your Invoices, Sales Receipts and Statements

QuickBooks Desktop
Ronald B. Allen

With QuickBooks you are able to make whatever sales forms that you need for whatever reason. Here is a snapshot of which forms are available and their uses.

When your customers or you make a purchase, you expect a slip of paper showing your purchase and its cost. And, if items are shipped to you before payment, there will always be a bill on the way. Whenever you have made several purchases and want to clarify what you owe and what you have paid, you can get a summary of your purchases.

Because your customers expect the same from you, you need a system that handles these issues efficiently. That will not happen if you are still doing your bookkeeping manually.

Lucky for you, you can find the solutions you need with QuickBooks. This bookkeeping and accounting software has templates for any and all sales form including sales receipts, invoices, and statements. Here is an intro for how and when to use these forms.

Sales Receipts

Sales receipts are for when your customers pay while picking up their purchase

The right time to use a Sales Receipt is when you receive payment in full for your products or services. To do this, click Create Sales Receipts (icon). This is on the front page. Otherwise, go to the Customers menu and chose Enter Sales Receipts. You will see a form like the image above.

Go to the Customer:Job field, click the down arrow, and choose the form that you want or click <Add New. If you want to assign a transaction to one of your Classes, chose the correct one from that list. The Template field should display the matching form. If you have made more than one template for sales receipts, chose the one you desire. Then make certain to click on the icon over the right payment type.

Note: If you want to accept eChecks and credit cards you will get paid more quickly by some of your customers. You can also set things up to get payments on your mobile device and create receipts there as well. If you wish to do this, contact us at Exigo Business Solutions.

Choose the correct Items(s) on the drop-down menu and enter the Qty (Quantity) desired. Be sure to add the Tax status for the sale from that list. If you have not added the ability to track sales tax yet in QuickBooks we will be pleased to help. After you finish filling out the information for all goods and services you sold, save the transaction and email it to your customer or print a hard copy.

Invoices

When you have finished the top part of your invoices, you will see this info at the bottom

When you have received no payment (or partial payment) at the point of sale you will send your customers Invoices. These amounts are now part of Accounts Receivable which is the money that customers owe you. To do this, go to the home page and click on Create Invoices or the Customers page and click Create Invoices. Fill in the info on this form like you did for the sales receipt as well as Bill To and Ship To addresses and the Terms and Due Date of the invoice.

You usually will not need to add any info at the bottom of the screen except when you wish to add a Customer Message. The information there is replicated from the top of the screen. But, check to make certain that you have the Tax Code right.

Note: Create invoices or sales receipts for the appropriate situations. Don’t create one when you need the other as it can cause problems in your bookkeeping system.

Statements

The first step to creating a statement is choosing the customer who will receive it

When you have many customers that are past due on paying, statements are essential. Find statements in the A/R Aging Summary report. You will find this in Reports and then Customers & Receivables. First, choose the customers to put on this list as in the image above. Follow the directions on this page to make the details more clear. QuickBooks will do the sorting automatically and all you will need to do is print them or email them.

Using QuickBooks Forms

When are set up and routinely using QuickBooks forms you will find that you are saving lots of time. First of all you can get these done more quickly. But, more importantly, you will be able to find information about your various transactions with a few keystrokes! Use these consistently and you will be able to run reports that give you excellent insight into your business and finances.

If you would like help setting any of this up, contact us at Exigo Business Solutions today.

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