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How To Record Sale Of Services On Account In Quickbooks?

K
Khushboo B.
03/01/2018 0 0

Keeping track of sales is a critical need for any business, and the QuikBooks accounting packages allows for easy tracking and accounting of the sales and payments made.

Sales can be recorded by creating a sales receipt for an immediate sale or by creating an invoice for billing a customer and to record an accounts receivable sale. Once entered, the information can then be saved for use with other accounting procedures such as creating financial reports.

Procedure for creating Sales Receipt:

  1. Open Quickbooks and press the “Create Sales Receipts” icon on the QuickBooks homepage.
  2. Track the sale by entering a customer or job name into the “Customer: Job” space or use the arrow next to the space to select an existing customer from the drop-down menu.
  3. Click the Service Column to enter the Service sold. Select the Service from the drop-down menu or enter a new Service name. If the Service is new then select the Service Type within the “Type” menu of the pop-up “New- Service” window. Enter a description for the item in the “Description” Window and select the account type. Enter the service rate for the charge and Tax code, then press “Save & Close” to return to the sales receipt window.
  4. Select the quantity sold in the Sales Receipt Window.
  5. Click on the “Payment Method” arrow and select a payment method for the sale, such as cash or sale. Click on “Save & Close” button to save the receipt for your records.

Procedure for Creating Invoices:

  1. Start the QuickBooks program, and then open the “Customer” menu located at the top of the program. Click on “Create Invoice” to open the invoicing menu.
  2. Choose the customer to receive the invoice using the drop-down menu for “Customer Job”. Select a template from the “Template” menu or use the default invoicing template. Fill in the customer information.
  3. Fill in the purchase information for the sale. Include as much detail as possible including quantity sold, the product or service description and pricing information.
  4. Use the drop-down “Tax” menu beneath the sales information area to set the tax percentage to be applied to the total sales amount. Click on the arrow next to the “Customer Tax Code” at the bottom of the page and set the code to “Taxable” or “Exempt” to set the customer’s Tax status.
  5. Indicate whether the invoice is to be printed or emailed to the customer by placing a check in the appropriate boxes at the bottom of the form. Press the “Save” button to save the invoice.
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