I got you covered in recording cash sales in QuickBooks Online (QBO), @bstanard. With these, we can keep your sales on track within the application that keeps it accurate.
To start, let's create a customer for your daily sales. You can name it to whatever you want where you can easily identify it. Follow the steps below to begin:
- Go to the Customers & Leads menu from the left navigation pane, and select Customers.
- Hit the New customer to start creating.
- Enter the customer name, and click Save.
After that, set up an account for these transactions:
- At the upper-right corner, click the Gear icon.
- Select Chart of Accounts under the Your Company section.
- Click New, and set up the following accounts. If you're unsure how you can consult with your accountant.
Let's create these sales items to enter whenever you record a transaction. To begin, we'll need to create a category first to keep your items organized, and next are the items. To do so, please refer to Step 3: Set up items for daily sales.
If you're recording a transaction repeatedly daily, we can create a recurring template to record your daily sales. You can refer to Step 4: Create a daily sales template to begin. Then, proceed to Step 5: Record your total daily sales to enter these entries into your accounts. Once ready, you can record the actual amount of funds by depositing this into the receiving bank account. Instructions are outlined in Step 6: Deposit your total daily sales.
Please refer to the steps I have mentioned above in this article: Record your total daily sales in QuickBooks Online.
Moreover, you can utilize various financial reports to get a snapshot of your business's financial growth. I also added a resource where you can refer to the complete guidelines for customizing it:
I’ll keep this thread open for your concerns and other queries about recording sales entries. I’m just a post away to guide you. Have a good one!
