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Nathandh
Level 3

Customers

QB has a great thing for vendors. You can pick a vendor and it shows you everything you purchased from that vendor including expenses from the bank feed.

 

Unfortunately, qb is not so great with customers (in the sales tab). You can only see invoiced transactions. You cannot see bank deposits (as sales). This is not good. It should be fixed to show all the transactions of the customer.

16 Comments
Anonymous
Not applicable

Customers

Hey there, Nathandh,

 

Let me share some information about accessing customer transactions in QuickBooks Online.

 

You're able to view all your sales transactions directly from the customer's profile. Let me guide you how to do that:

  1. Go to the Sales menu.
  2. Click the Customers tab.
  3. Click the Customer/Project name you'd like to view.

You'll be routed to the Transaction List window where you can filter the transactions you want to see. I have added a screenshot to this answer to give you a view of the transactions section.

 

Keep me updated for all your QuickBooks questions. Nathandh. I'm here to lend you a helping hand.

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Nathandh
Level 3

Customers

When I go to customers (all of them), QBO says there are no transactions. This is quite untrue. I have many sales transactions that I applied through the bank feed without any invoice. I think the sales customer tab only uses invoices.

vpcontroller
Level 11

Customers


@Nathandh wrote:

When I go to customers (all of them), QBO says there are no transactions. This is quite untrue. I have many sales transactions that I applied through the bank feed without any invoice. I think the sales customer tab only uses invoices.


Yes, that's correct. If you are adding deposits to income account from the bank feed, it records as banking transactions, not sales transactions. You will not create Invoices or Sales Receipts in order to show up in the Customers tab in QBO.

Regina_Lend_A_Hand_Accounting
Level 9

Customers

Go to Reports and run the "Sales by Product/Service Detail" This report can be filtered by customer if you want to view it on a customer by customer basis, you can filter the report in a number of ways.

Nathandh
Level 3

Customers

No sales report helps me because my sales transactions are not considered sales since there is no invoice. This needs to be changed. QBO should list in the customer section all the trasactions for the customer. Not just the ones that have invoices.

 

I can do transaction and income reports, but I want the customer section to work the way it should, in the same way the vendor section works. It is not acceptable to not include all the transactions, which are indeed sales from the bank feed.

Nathandh
Level 3

Customers

@vpcontroller

That is the problem. It is not correct that QBO does not recognize bank feed sales transactions without invoices.

 
   
 
Regina_Lend_A_Hand_Accounting
Level 9

Customers

There is no such thing as a bank feed sales transaction. Sales are recorded by creating an invoice or a sales receipt. That is the reason why companies setup products and services and create either invoices or sales receipts by customer, to record what products or services are sold to the customer.

 

When you add a deposit to the register via the bank feed directly to an income account you are not recording the sale of a product or services, you are recording the receipt of income without any reference to the product or service for which the income was received. The fact that you selected the customer as the payee is not relevant, it's optional, and should not show up in sales transactions because it is not a sales transaction.

FritzF
Moderator

Customers

Hello, @Nathandh.

 

Thanks for sharing the option that you'd like to be added in QuickBooks Online (QBO). I'm here to help get this taken care of.

 

It would be great for QBO to recognize all the customer's transactions including bank feed sales transactions in the Customer section, and I can see how this option and functionality would be helpful for both you and your organization. I encourage you to submit feedback and suggestions to our Product Developers and let them know about the changes you'd like to see made.

 

This can be done directly through your account by clicking the Gear icon in the top right corner, then select Feedback or by visiting this link: https://feedback.qbo.intuit.com/.

 

QBO is constantly changing and evolving based largely on the suggestions and requests of users, like yourself. Please know that I'm going to submit feedback on my side as well.

 

That's it! Please let me know if I can be of additional assistance by leaving a comment. Take care and enjoy the rest of the week.

Regina_Lend_A_Hand_Accounting
Level 9

Customers

Let's not go away from the accounting principals and fundamentals here. The "Sales" module that includes the details of the "Customers" "Products and Services", "Invoices" and "Sales" should not include non-sales transactions. Now if QBO was to add another tab for "Income" by customer that could be helpful, but we cannot start labeling or categorizing income deposits as sales receipts.

 

Furthermore, as Accountants, we know that an expense is an expense is an expense, so to speak. When you add an expense by vendor within the bank feed it will show up in the "Expenses" module because it is actually an "Expense". It is better to educate QBO users who are not Accountants of the fundamental facts than to try to make an illogical change to QBO that is not correct accounting.

vpcontroller
Level 11

Customers

@Nathandh

Currently, in non-US versions, there is an option to add as a Deposit or a Sales Receipt directly from the bank feed but unfortunately, such feature is not available in the US yet. If you select a Sales Receipt, it will show up on the left Sales dashboard tab. See Screenshots below from QBO Canada for reference.

This feature has been available in QBO International version for a few years now but just not available in the US for some reason.

.

Banking_Sales_Receipt.png

.

Banking_SalesReceipt_Customer.PNG

 

 

Nathandh
Level 3

Customers

@Regina_Lend_A_Hand_Accounting

 

I disagree that the bank feed transactions can't be sales. I believe they could be sales. It is true that no specific product is listed, but the income is still from a sale. QBO should correct this. It can let the customer section pull all transactions for the customer. It is not correct that the expense/vendor tab and the sales/customer tab work differently. Perhaps the tab should be labeled income instead of sales. In any case, this needs to be corrected. 

Regina_Lend_A_Hand_Accounting
Level 9

Customers

Working from the customer backwards, which I always do, it would be helpful for QBO to add to the bank feed categorization feature the option of recording a sales receipt, which would flow through to the "Sales" and "Customer" module as a "Sales" transaction that would be visible.

 

But, as an Accountant who understand the order of operations, I cannot agree that the "deposit of income" is the "sale of a product or service". I understand that some QBO users want to "skip" the step of entering an invoice or a sales receipt, and that some do not even setup products and services, mapping those products and services to an income account. But that does not change the fact that this is how accounting is done. You have a product or service, you record the sale of the product or service, and "then" you receive the "Income" for the product or service sold.

 

Again, the module is a "Sales" module. The definition of a "Sale" is the exchange of a commodity for money; the action of selling something. The recording of income received is a "one-sided" transaction, as there was money received with no exchange of goods or services, this is not proper accounting. Yet the definition of an "Expense" is the cost required for something; the money spent on something. When you add an expense from the bank feed, it really is money that has been spent on an expense that you select during the process of adding said expense.

 

While it is not uncommon for QBO users to simply record income and not sales, it is still not a best practice, or how accounting is supposed to be performed. If an accounting application is not used as intended, it is not reasonable to complain about the result of misuse. 

 

With that said, it would be beneficial to QBO users to have the ability to create a sales receipt via the bank feed in the interest of efficiency for those who do not want to simply create the sales receipt and then match it to the deposit in the bank feed.

 

On a final note, you will not have the benefit of sales tax tracking if you do not use QBO as intended. You cannot book a deposit directly to an income account, never create a customer invoice or sales receipt and expect to track the sales tax due (a liability) on a retail sale. Yet another reason to understand how the "accounting" process works and why you should not skip steps in the process that are co-dependent.

qbteachmt
Level 15

Customers

Bank Deposits are Money, not Sales.

 

You know this, if you think it through for an entity subject to collecting Sales Tax for customers. The Money is Split, as part income and part Liability.

 

The solution is to use Sales Receipt, when you don't need to Invoice.

 

Sales Receipt = I already also got paid.

Invoice = for this date of the sale, I am not yet paid.

 

Now you have Sales.

Regina_Lend_A_Hand_Accounting
Level 9

Customers

I believe that is what I said, to use QBO as intended and either create an invoice for sales to a customer, or a sales receipt if an invoice is not needed. It depends on the expectations of the customer and how you expect to be paid by the customer. Do you need to present an invoice for payment? Then you need to create an invoice. Is the sale taxable? Then you need to setup your tax rates and mark the items sold as taxable so QBO can calculate the tax for the items on the invoice and track your tax liability. Having the ability to create a sales receipt in the bank feed would be a nice additional feature.

 

Nathandh
Level 3

Customers

The issue with sales receipt is that it is not an option on the bank feed. It is a waste of time to enter 1000s of sales receipts manually just to match them.

 

I will say again that the bank deposit is because of a sale.

SM413
Level 1

Customers

I'm looking for help in cleaning up some books for a small non-profit school who currently has all deposits put into a "tuition" income account with the name referenced in the bank deposit.  How can I go back in and properly assign these old payments to the sale of the monthly tuition payment?

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