Find out how to record your total daily sales in QuickBooks Online using a single sales receipt.
You can enter a single sales receipt to report the total daily sales in QuickBooks if you use a separate Point of Sale system. Or if you simply don't invoice customers. This saves you time, while still keeping your income reports accurate.
Here's a step-by-step guide to help you get you started.
You'll only use this customer account on your "end of day" sales receipt.
Make sure your Daily Sales accounts are set up right. Doing so can help you a lot with accurate income reporting.
To set up daily sales accounts:
|Name||Category Type||Detail Type||Description|
|Daily Sales Income||Income||Other Primary Income/Sales of Product Income||For tracking daily sales|
|Clearing Account||Bank||Cash on hand||Zero balance account for daily sales|
|Overage/Underage Expense||Expense||Other Business Expenses||For drawer shortages|
Set up a "Daily Sales" category to keep your items organised:
After setting up the Category, next are the items:
|Name||Account||Description (will appear on forms)|
|Daily Sales Income||Daily Sales Income||Daily Sales Income|
|American Express||Undeposited Funds||American Express|
You'll use this template every time you need to record total daily sales.
Done setting up your sales receipt template? You're now ready to record your "end of day" sales.
Total end of day sales example:
Record the actual amount of fund deposited to the bank. This step is important for making sure your deposits match what's shown on your bank statement.
To record the deposit: