About QuickBooks Sales Receipts

Posted by Dave Dunn on August 24, 2008 | 0 Comments

Tags: QuickBooks Tutorials, QuickBooks

As a general rule, it makes sense to use sales receipts in QuickBooks instead of invoices if your customers pay you at the time they receive your product or service. The reason is that because you receive payment right away, there is no need to track how much your customers owe you. In this situation, using sales receipts is an easy way to track individual sales, calculate sales tax and print receipts.

If your customers pay in advance or pay after delivery of your service or product, then use invoices in QuickBooks rather than sales receipts.

Here's a quick checklist to help you determine if sales receipts are right for your business:

• if you collect payment in full when you deliver your service or product, consider using sales receipts
• if you want to track your sales, consider using sales receipts
• if you want/need to track sales tax collected and owed, consider using sales receipts
• if you would prefer to create a weekly or daily summary of your sales instead of entering each individual sale, consider using sales receipts
• if you don't accept payment in advance or allow customers to pay you after the sale, consider using sales receipts

Some examples of businesses that should consider using sales receipts are restaurants, beauty salons, dry cleaners, pet groomers and newspaper stands.