Sale of products to a customer

In QuickBooks, you can easily record the sale of products to a customer by creating a sales receipt or an invoice. The choice between a sales receipt and an invoice depends on whether the customer pays you immediately or at a later date. Here’s how to do both:

  1. Sales Receipt (for immediate payment):A sales receipt is used when a customer pays for the products or services at the time of the sale. Here’s how to create a sales receipt:
    • Go to the QuickBooks homepage.
    • Click on the “Create” button (usually a plus “+” sign at the top of the screen).
    • Select “Sales Receipt” under the “Customers” column.
    • Fill in the customer’s name or create a new customer if they’re not already in your system.
    • Add the products you’re selling by entering the item name or SKU in the “Product/Service” field. QuickBooks will automatically fill in the product details if you’ve set them up in your item list.
    • Enter the quantity, rate, and any discounts or tax as necessary.
    • Review the sales receipt and ensure all information is accurate.
    • Save the sales receipt.
  2. Invoice (for future payment):An invoice is used when you want to send a bill to your customer and receive payment at a later date. Here’s how to create an invoice:
    • Go to the QuickBooks homepage.
    • Click on the “Create” button.
    • Select “Invoice” under the “Customers” column.
    • Fill in the customer’s name or create a new customer if they’re not in your system.
    • Add the products you’re selling by entering the item name or SKU in the “Product/Service” field.
    • Enter the quantity, rate, and any discounts or tax as necessary.
    • Set the invoice’s terms (i.e., due date) and any payment methods.
    • Review the invoice and ensure all information is accurate.
    • Save and send the invoice to the customer.

QuickBooks will track these transactions, and you can view your sales reports, customer balances, and other financial data based on the transactions you’ve entered.

Remember to consult with your accountant or financial advisor to ensure you’re using QuickBooks correctly for your specific business needs and to maintain accurate financial records.

A bookkeeper for small business can use QuickBooks to analyze financial data, offering valuable insights to the business owner.