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.
To create an invoice:
- Select the Plus icon (+) on the toolbar, then Invoice.
- Complete the fields with necessary information.
- Select Save or Save and send.
To close out invoice:
- Select the Plus icon (+) on the toolbar, then Receive Payment.
- Choose a customer, then select invoice/s you want to close out.
- Select the payment method and account where the payment will be deposited to.
- Select Save and close.
Here, the payment portion is part of the transaction. With a Sales Receipt, you enter the payment information at the same time you are entering the sale.
To create a Sales Receipt:
- Select the Plus icon (+) on the toolbar, then Sales Receipt.
- Choose the name of the customer.
- Enter sales information, then select Save and close.