How to Enter Sales & Invoices in Quickbooks
Keeping track of sales is a critical need for any business, and the QuickBooks accounting package allows for easy tracking and accounting of the sales and payments made. Sales can be recorded by creating a sales receipt for an immediate sale or by creating an invoice for billing a customer and to record an accounts receivable sale. Once entered, the information can then be saved for use with other accounting procedures such as creating financial reports.
Creating Sales Receipts
Open QuickBooks and press the “Create Sales Receipts” icon on the QuickBooks homepage.
Track the sale by entering a customer or job name into the “Customer: Job” space or use the arrow next to the space to select an existing customer from the pull-down menu.
Click the Item column to enter the item sold. Select the item from the pull-down menu or enter a new item name. If the item is new, then select the item type within the “Type” menu of the pop-up “New Item” window. Enter a description for the item in the “Description” window, and select the account type that the income from the sales applies to using the “Account” menu. Enter the item rate for the charge and tax code, then press “Save & Close” to return to the sales receipt window.
Select the quantity sold in the Sales Receipt window.
Click on the “Payment Method” arrow and select a payment method for the sale, such as cash or sale. Place a check in a box next to “To be printed” or “To be e-mailed” to select whether to print a receipt for the customer, or email the receipt to the customer’s email account. Click on the “Save & Close” button to save the receipt for your records.
Start the QuickBooks program, and then open the “Customers” menu located at the top of the program. Click on “Create Invoice” to open the invoicing menu.
Choose the customer to receive the invoice using the drop-down menu for “Customer: Job.” Select a template from the “Template” menu or use the default invoicing template. Fill in the customer information, including billing, shipping address, shipping type and the sales date.
Fill in the purchase information for the sale. Include as much detail as possible, including quantity sold, the product or service description and pricing information. Use one line per product, and enter the word “tax” for taxable material and “Non” for items that aren’t taxed in the “Tax” field of the section. A total of the sale will appear at the bottom.
Use the pull-down “Tax” menu beneath the sales information area to set the tax percentage to be applied to the total sales amount. Click on the arrow next to “Customer Tax Code” at the bottom of the page and set the code to “Taxable” or “Exempt” to set the customer’s tax status.
Indicate whether you wish the invoice to be printed or emailed to the customer by placing a check in the appropriate boxes at the bottom of the form. Press the save button to save the invoice.