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jkamp_kampco foods
Level 1

I am trying to set up a Recurring Sales Transaction and Receipt. How do I have a credit card payment and a cash deposit for the same day?

We are restaurant, with 2 locations. We have sales daily that need to be entered . Payments are made with different credit cards and also cash deposits. Should I plan on 2 trx for the Daily Sales ?
1 Comment 1
MJoy_D
Moderator

I am trying to set up a Recurring Sales Transaction and Receipt. How do I have a credit card payment and a cash deposit for the same day?

Let's discuss how to enter these payments to your QuickBooks Online account, @jkamp_kampco foods.

 

Yes, you can set up a daily sales in QuickBooks Online where you can enter a single sales receipt to report the total daily sales at the end of the day. 

 

You'll just have to set up a category for cash and your credit cards under Undeposited Funds account. You can record the actual amount of funds to the bank after that. 

 

Here's how:

  1. Go to your Sales menu and then Customers to create a new customer named Daily Salesnew customer.JPG
  2. Proceed to your Chart of Accounts from the Accounting menu to create daily sales accounts (Income, Bank, and Expense accounts). chart of accounts QBO.JPG
  3. Once done, go back to the Gear icon and select All lists. Select Product Categories, create a new category and name it as Daily Salesproduct categories.JPG
  4. Go back to the Gear icon and select Product and services to create Non-inventory items for your Daily Sales IncomeOverage/underageCheck, Visa/MasterCardCashAmerican Express, and Discover. Set Daily Sales as the category for these items and account your cash and credit cards to Undeposited Funds account. daily sales2.JPG
  5. You can now create an unscheduled recurring sales receipt for your Daily Sales customer. sales receip daily sales.JPG

You can check this article for detailed guidance: Record your total daily sales.

 

At the end of the day, you can simply go to the Gear icon and choose Recurring Transactions, find that Daily Sales template and use that. daily1.JPG Please keep in mind to record the deposit for Visa, AMEX, or Mastercard as soon as you receive the funds from your merchant service provider.

 

Then, record a bank deposit for those amounts that you've added to Undeposited Funds (Visa/MasterCard, American Express, Cash, and Discover).

 

Here's how:

 

  1. Go to the + New button and choose Bank Deposit.
  2. Provide all the necessary information
  3. Select Savebank deposit qbo.JPG

Check these articles for more information:

Let me know if you have any questions about daily sales transactions. I'll be right here to share some more information if you need anything. Have a nice day!

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