Entering Daily Sales Summary that includes cash paid to bills

smollstub13 · ‎February 02, 2021

Hello,

Trying to figure out how to complete my Daily Sales Summary to include all cash handled when my client uses money from cash drawer to pay bills to vendors. I can figure out how to enter on the Daily Sales Summary by creating an item called Bills Paid By Cash, but how do I then also pay the bill?

If I enter it on the Daily Sales Summary transaction (which I need to do to account for everything that happened in the day), that says the money has come out of the drawer.

So if I then pay the bill from the drawer, that would be a second draw.

I've created the Daily Sales Summary as a Customer and memorized transaction in Sales Receipts.

I tried to put the item Bills Paid By Cash to Accounts Payable to offset that way, but cannot put an item to Accounts Payable in Sales Receipts.

Please help!

LauraAB · ‎February 02, 2021

Hello smollstub13,

I appreciate that you've taken some time to explain what you're trying to accomplish in QuickBooks Desktop with your daily sales summaries and the bills for the business. I like the idea of being able to handle all of those details in one transaction. With what you've got here, I can shed light on why the transaction isn't working out the way you're expecting it to.

When you're working with a daily sales summary, the program recommends using a sales receipt. The sales receipt is used to show the income for the day in various areas, which is why you're not able to include an accounts payable line with that transaction or enter data that's for a bill. The sales receipt is an income transaction for customer payments, whereas accounts payable and bills have to do with vendors.

With that in mind, these transactions should be handled separately. Use the daily sales to account for the money coming in from customers, whether paid by cash or otherwise, then create a bill or multiple bills to account for bills paid. When you pay the bill, you can select the Method and Account you'd like for the payment.

I've got a couple of Community articles here about working with bills in QuickBooks Desktop, then I'll also direct you how to find an in-product article for accounting for daily sales.

As for that daily sales article I mentioned, here's how you can find that.

Select Help from the top menu in QuickBooks Desktop.
Choose QuickBooks Desktop Help.
Click the Help tab, then the Search button.
Use keywords like "daily sales" to find related articles.
Click an article to read it.

The one I was looking at in particular that gives step-by-step guidance is called Entering daily sales summaries. Feel free to take a look at that one and the others available if you'd like.

I hope that helps clear this up. Don't hesitate if you have further questions.

View solution in original post

LauraAB · ‎February 02, 2021

Hello smollstub13,

I appreciate that you've taken some time to explain what you're trying to accomplish in QuickBooks Desktop with your daily sales summaries and the bills for the business. I like the idea of being able to handle all of those details in one transaction. With what you've got here, I can shed light on why the transaction isn't working out the way you're expecting it to.

When you're working with a daily sales summary, the program recommends using a sales receipt. The sales receipt is used to show the income for the day in various areas, which is why you're not able to include an accounts payable line with that transaction or enter data that's for a bill. The sales receipt is an income transaction for customer payments, whereas accounts payable and bills have to do with vendors.

With that in mind, these transactions should be handled separately. Use the daily sales to account for the money coming in from customers, whether paid by cash or otherwise, then create a bill or multiple bills to account for bills paid. When you pay the bill, you can select the Method and Account you'd like for the payment.

I've got a couple of Community articles here about working with bills in QuickBooks Desktop, then I'll also direct you how to find an in-product article for accounting for daily sales.

As for that daily sales article I mentioned, here's how you can find that.

Select Help from the top menu in QuickBooks Desktop.
Choose QuickBooks Desktop Help.
Click the Help tab, then the Search button.
Use keywords like "daily sales" to find related articles.
Click an article to read it.

The one I was looking at in particular that gives step-by-step guidance is called Entering daily sales summaries. Feel free to take a look at that one and the others available if you'd like.

I hope that helps clear this up. Don't hesitate if you have further questions.

smollstub13 · ‎February 02, 2021

Thank you very much for your detailed reply.

I was hoping there would be some magical answer to be able to do both at the same time....but your answer makes sense to me and helps me in not continuing to bang my head against the wall trying to figure out a way :)

Thank you so much!

LauraAB · ‎February 02, 2021

You're very welcome! I'm glad that what I went over was helpful. Like I said, I see how being able to do it all at once would be really handy. Feel free to leave some feedback for our product development team about it if you'd like. You can do that by going to the Help menu in product and selecting Send Feedback Online. The Product Suggestion option should work just fine, and then the comments you leave there are forwarded to the development team for consideration.

I hope you enjoy the rest of your day! :)

Topics

Training

Community

Resources

Entering Daily Sales Summary that includes cash paid to bills