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whizstore_keeper
Level 1

Set up to record daily sales

I am looking to set up accounts to record the daily sales figures using journal entries.  I just took over the books for this business.  None of the sales figures have been recorded from the previous bookkeeper.  There is a new POS which is not connected to Quickbooks.  All bank accounts are connected with the bank feed.  I figure if I start with the date of the new POS system I can work from there.  I found the directions for the Online version, but we use Desktop Pro.  The directions do not match what is listed in the desk top version.  Owner would like to be able to track the different payment types, sales tax, etc.   Currently has no way to track what been done.  Previous POS system has erroneous figures.  I've used QB for 10 years at another company, but never had to set anything up.  Thanks in advance!

5 Comments 5
RenjolynC
QuickBooks Team

Set up to record daily sales

We want to make sure your Daily Sales accounts are set up, whizstore_keeper.

 

Here are the steps:

  1. Click List located at the top.
  2. Select Chart of Accounts.
  3. Click Account located at the bottom, and select New.
  4. Choose Income for tracking daily sales and other Primary Income/Sales of Product Income.
  5. Click Continue, and enter the Account Name, Description, Note and the Tax Line Mapping.
  6. Click Save and Close.

Then, you can start using the account when you create the journal entries.

 

To view articles about recording daily sales, you can click on the Help menu in your QuickBooks Desktop.

 

If there's anything else you need help with QuickBooks, feel free to reach out to us. Thanks.

Rustler
Level 15

Set up to record daily sales

@whizstore_keeper 

 

Journal entries should be the exception when using QB, they often do not work as you think they should, and  when you use inventory type items they never work for inventory. It is much better to use the forms on the home page the way QB is designed to be used.    Journal entries also bypass accrual/cash reporting, and will not show on many reports.

 

And you can not use payment type in a journal entry anyway

 

this article is the "bible" of how to do store sales summary entrys

https://longforsuccess.com/daily-sales-summary-for-retailers-restaurants-ecommerce-and-more/

whizstore_keeper
Level 1

Set up to record daily sales

I'm going in tonight and will see what I have set up. I basically work a couple hours a couple nights a week after my full-time job.  Thanks! Will reach out if I need more help.

JonpriL
Moderator

Set up to record daily sales

It's nice to see you again, @whizstore_keeper!

 

Glad that @Rustler and my colleague, @RenjolynC, were able to solve all your concerns for today.

 

If there's anything else you need, you're always welcome here in the Community to post again. We'll be always around ready to help.

whizstore_keeper
Level 1

Set up to record daily sales

How do I know which Tax mapping line to use.  This is a small retail store.  I do have a Z-tape from the register closeout each night.  I do feel making the journal entries is the way we need to proceed for tracking purposes.   Luckily, I only have about a month's worth of entries to do, which should go quickly once I have this set up correctly.

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