Sale of finished goods to a customer

To record the sale of finished goods to a customer in QuickBooks, you will create a sales transaction, such as an invoice. Here’s how you can do it:

Step 1: Create a Sales Transaction:

1. Go to the QuickBooks homepage.
2. Click on the “Create” button (usually represented by a plus “+” sign) at the top of the screen.
3. Under the “Customers” column, select “Invoice.”

Step 2: Enter the Sales Details:

In the “Invoice” window, you need to provide the following information:

• Customer: Choose the customer to whom you are selling the finished goods. If they are not in your system, you can create a new customer profile.
• Invoice Date: Specify the date of the invoice, which is the date of the sale.
• Due Date: Set the due date for payment, which depends on your payment terms.
• Product/Service: Select the finished goods or service you are selling from your product or service list. If the item is not in your list, you can create a new product or service.
• Quantity: Enter the quantity of finished goods you are selling.
• Rate/Price: Enter the per-unit price or the total price for the finished goods.
• Sales Tax (if applicable): If you need to charge sales tax, specify the tax rate or use a predefined tax item.
• Add any additional line items for other products or services, if necessary.

Step 3: Review and Save:

Review the invoice details to ensure accuracy, and then save the invoice.

Step 4: Email or Print the Invoice (optional):

You can email the invoice to your customer directly from QuickBooks, or you can print and send a physical copy, depending on your communication preference.

Step 5: Receive Payment:

When your customer makes a payment for the invoice, record the payment using the “Receive Payment” feature in QuickBooks. This will update your accounts receivable and bank accounts accordingly.

Step 6: Reconcile Your Accounts:

After recording the sale and payment, reconcile your accounts in QuickBooks with your actual bank statements to ensure accuracy.

By following these steps, you can accurately record the sale of finished goods to a customer in QuickBooks, helping you keep track of your sales and maintain accurate financial records.

Don’t let unpaid invoices or overlooked bills affect your business’s financial stability. Our bookkeeper for small business services are designed to keep your finances in order and your cash flow healthy.