Recording monthly sales into QBO

You can prepare Sales Receipt data with the following template

then use an importer tool to proceed.

https://get.transactionpro.com/qbo

I do not have customers.  I am just wanting to enter one monthly journal entry to show the sales for the month.

@Jessalyn121789 

There's a lot going on there.  The local charge account is offset by sales (revenue) when they put the charge on account, not COGS.  When they pay down their charge account, it is offset by cash, check or cc, depending on how they pay.  I've have no experience with lottery ticket sales.  If you can provide more info on how that works, I can try and help.  The journal entry to record sales will look something like this:

COGS is offset by a reduction in inventory so any journal entry that records COGS needs to have an offsetting amount of inventory.  You can include it in the journal entry above or a separate entry like this:

@Jessalyn121789 

I forgot to mention that if you record COGS, you will need to include inventory purchases as well. Since COGS reduces inventory, you will need to add inventory each month.  That leads to Accounts Payable and so on... If you just want to use QB for tracking sales, then omit the COGS/inventory journal entry.  I'm sure you're you're aware that the bank balance won't be accurate unless you're tracking all expenditures (expenses, inventory purchases, etc.).  

@Rainflurry  Thank you so much for your help!   You have no idea how thankful I am. 

For the lottery sales, The state drops off the scratch tickets.  We are not charged for them.  When someone purchases one, we take the money and run it all through the POS system.  If someone has a winner, we pay them.  The company then will do an automatic withdrawal depending on how many we sold less what we paid out.  I am unsure how to handle these sales.

I tend to OVERTHINK a lot and second guess myself...  Now I am so behind and have already reconciled the bank accounts but they do not show the sales...  So that will prob be a huge nightmare lol Again, thank you so much!

With your first journal entry, is there a way to enter the COGS on there?  To show what the sales were for ?

@Jessalyn121789 

"With your first journal entry, is there a way to enter the COGS on there? To show what the sales were for ?"

On the first journal entry, you can create multiple sales accounts or subaccounts for groceries, liquor, etc. to track sales.  COGS is an expense so unless you're tracking inventory in QB, it doesn't make sense to use COGS expense.

@Jessalyn121789 

In regard to recording the lottery sales, payouts, etc. (commissions on sale of tickets?), that sounds like a pretty in-depth discussion and I would suggest you see if you can find others on other forums that have done this.  I have no experience with it.

Hi. Have you got solutions for these kind of transaction? I am also need recording monthly sale of same kind of transaction.