Recording the sale of customer software fees in QuickBooks involves creating a sales receipt or an invoice, depending on how you are collecting payment from your customer. Here’s how you can do it:
Method 1: Creating a Sales Receipt
- Log in to QuickBooks: Open your QuickBooks account and ensure you are in the correct company file.
- Create a Sales Receipt:
- Click the “+ New” button.
- Under the “Customers” section, select “Sales Receipt.”
- Select the Customer:
- Choose the customer to whom you are selling the software fees from the “Customer” drop-down menu. If the customer is not already in your list, you can add a new customer.
- Add the Software Fee Items:
- In the “Product/Service” column, select the software fee items that you are selling to the customer.
- Enter the quantity and rate for each item.
- QuickBooks will automatically calculate the total amount.
- Payment Method:
- Specify the payment method that the customer is using to pay for the software fees.
- Save the Sales Receipt:
- Click “Save and Close” to save the sales receipt.
Method 2: Creating an Invoice
- Log in to QuickBooks and ensure you are in the correct company file.
- Create an Invoice:
- Click the “+ New” button.
- Under the “Customers” section, select “Invoice.”
- Select the Customer:
- Choose the customer to whom you are selling the software fees from the “Customer” drop-down menu.
- Add the Software Fee Items:
- In the “Product/Service” column, select the software fee items that you are selling to the customer.
- Enter the quantity and rate for each item.
- QuickBooks will automatically calculate the total amount.
- Payment Terms:
- Specify the payment terms on the invoice, such as the due date and any late fees, if applicable.
- Save the Invoice:
- Click “Save and Close” to save the invoice.
- Receive Payment:
- When the customer pays, record the payment by clicking the “+ New” button, selecting “Receive Payment” under the “Customers” section, and applying the payment to the corresponding invoice.
Both methods allow you to record the sale of customer software fees in QuickBooks. The choice between a sales receipt and an invoice depends on when you receive payment from the customer. If you receive payment immediately, a sales receipt is appropriate. If you expect payment at a later date, use an invoice.
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