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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!
Visit the following reference to record your customer's payment as deposit
As I know, QBO doesn't have a back order feature. To manage your inventory better, consider having an inventory management app with the back order feature to integrate with your QBO.
Flat Lux,
Thank you for pointing me to the right direction!
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