Updated September 19, 202210:33 AM - last edited September 19, 202210:36 AM
Ready for your first sale? There are two ways to record income transactions in QuickBooks Online. In this article, we’ll dive into how to create invoices and sales receipts. Let’s get started!
First, let’s discuss the difference between the two. Simply put, invoices are created when you expect to be paid in the future, and sales receipts are for payments given to you in that moment. Check out this awesome video below that describes these two workflows in this video.
Let’s cover each of these two ways more in depth.
You’ll send your customer an invoice when you plan for the customer to pay for your products or services at a later date. Invoicing is essentially sending your customer a bill. To create an invoice, you will follow the steps below.
Select + New.
Select Add customer and choose a customer from the ▼ dropdown. Make sure all of their info is correct, especially their email address.
Review the Invoice date, Due date, and Terms. Enter new dates or terms, if you need to. Tip: In the Terms field, Net refers to the number of days until the payment is due.
Select Add product or service and select a product or service from the ▼ dropdown.
Select how you want to calculate the charge amount—flat rate, by hour, or by item. Enter a quantity and rate, if needed.
There you have it! Those are the basics of recording sales forms. If you have time, check out more awesome content we have regarding getting started with QuickBooks Online. I hope you found this helpful. Happy selling!