Created with Sketch.Learn about PPP and Loan Forgiveness, stay informed with the latest changes.
Created with Sketch.Need help with 1099's or other Year End topics? Visit our Year End Resources page.
Created with Sketch.New to QuickBooks or using a new product? Visit our Get Started resource page to help you get going.
Created with Sketch.Need to make changes to your account? Visit the Account Manager Portal.
cancel
Showing results for 
Search instead for 
Did you mean: 
Intuit

Should I use an invoice or a sales receipt?

Depending on when you receive the payment, there are two ways to record sales transactions in QuickBooks.

  • For a deferred payment, use Invoice and Receive Payment. Think of this as a two-part transaction. First, you create the invoice to record the sale. Later, when your customer pays, you record a payment against that invoice.
  • For an immediate payment, use Sales Receipts.

Invoices

To create an invoice:

  1. Select + New.
  2. Select Invoice.
  3. Complete the fields with necessary information.
  4. Select Save or Save and send.

To close out invoice:

  1. Select + New.
  2. Select Receive Payment.
  3. Choose a customer, then select invoice/s you want to close out.
  4. Select the payment method and account where the payment will be deposited to.
  5. Select Save and close.

If you deposit a payment from the Bank Deposit screen instead of receiving payment on the invoice, the payment won't be linked to the invoice and the it will appear as unpaid on your reports.

Sales Receipts


Here, the payment portion is part of the transaction.

To create a Sales Receipt:

With a Sales receipt, you enter the payment information at the same time you are entering the sale.

To create a Sales Receipt:

  1. Select + New.
  2. Select Sales Receipt.
  3. Choose the name of the customer.
  4. Enter sales information, then select Save and close.

Was this helpful?

You must sign in to vote, reply, or post
Sign in for the best experience
Ask questions, get answers, and join our large community of QuickBooks users.
Sign In / Sign Up

Need to get in touch?

Contact us