Hello. I am new in this community. Hope someone helps me... I am with a new e-commerce company, trying to figure out the correct way of entry in QBO.
We sell products (not service) and general flow of buying/selling is:
- We receive an order from a customer. At the same time, the customer pays for the product and delivery.
- We purchase the product from a vendor, usually a couple of more in quantity (e.g. the customer only wants one, but we order two to the vendor for the future sale opportunity.)
- As soon as the products arrive to us, we deliver/ship the product to the customer.
Do I record the customer's payment as prepayment first then change it to sale once the product is delivered to the customer?
Thank you in advance!
