"Buy now, pay now," is how a cash transaction is often referred to. Regardless of the form of payment, when a customer pays at the time of sale, he is considered to be a cash customer. Depending on your type of business, you may process several of these transactions throughout the course of your day. To be well-organised, it pays to keep an accurate count of these sales, using a method that you can rely on. QuickBooks financial software can be an efficient organizational tool for tracking your cash sales.
- Skill level:
- Moderately Easy
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Click the "Create Sales Receipt" icon on the main QuickBooks window. Alternatively, click "Customers" menu at the top of the screen and then click "Enter Sales Receipts."
Enter the customer's name at the top of the Sales Receipt form by clicking the drop-down arrow underneath "Customer:Job." Choose the customer from the Customer list that appears. If the customer is new, manually type the last name followed by a comma and the first name in the Customer:Job field, then press the "Tab" key on your keyboard. Click the "Quick Add" button to instantly add the customer name to your Customer list.
Enter the additional details of the sale in the space provided on the form. Enter each item sold on a separate line. Enter quantity sold and update rate amounts, if necessary. If none of the items entered have been added to your QuickBooks item list, you are prompted to enter them in along with the desired sale price.
Click the drop-down arrow next to the "Tax" option at the bottom right-side of the form. If any items on the Sales Receipt are taxable, choose the Tax item that applies for the customer's location. Leave this setting at "Out of State" if sales tax is not necessary (typically for service items only).
Click the "Save and Close" button to enter the Sales Receipt amount into QuickBooks. If you have enabled the "Undeposited Funds" feature via the "Edit" menu by clicking on the "Preferences" and "Sales and Customers" options, click the "Record Deposits" button on the main page when you are ready to deposit the cash receipts into your bank account. If you have not enabled "Undeposited Funds," the amount from each Sales Receipt is automatically deposited into your bank account in QuickBooks.
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