 QuickBooks Online 2024. Sales receipts form. Get ready and relax because it's so easy using QuickBooks Online. You'd think it'd be a crime, but it's not unless you're doing bookkeeping for bad stuff or something. Anyways, let's do it. Here we are online in our browser searching for QuickBooks Online Test Drive looking for the result that has Intuit.com in the URL, Intuit being the owner of QuickBooks, selecting the United States version of the software and verifying that we're not a robot. Opening up our major financial statement reports like we do every time. Going to the reports on the left hand side, right clicking on the balance sheet and opening link in new tab. Same with the profit and loss otherwise known as the income statement, right clicking and open link in new tab. Let's take a look at those tabs that have been created middle tab. Close in the hamburger. There's our balance sheet tab and to the right close in the hamburger. There's our profit and loss report. Let's go to the first tab. This is the setup process we do every time. Data input on the first tab. Looking at the results of that input on the tabs to the right in the financial statement and related reports. Drop down. We've been looking at the customer cycle. Remembering that customers for QuickBooks means the side of the table where we have our customers, people that are going to be ultimately paying us for goods and services that we provide and that could be done quite easily or be a little bit more difficult of a cycle depending on the industry that we are in and the possibly the size of the company. The easiest way would be a cash-based system possibly with like a gig work system. Even easier than a cash-based system in that we wait till the deposits clear the bank and just record them with a deposit form using the bank feeds and that would be the simplest system. But you might have a cash-based system where you can't do that because possibly you're at a sales register and you have to use the sales receipt form because you want to record the sales as you make the sales. You want to have the double check of the internal control over those sales before you actually go to the bank and make the deposit and then use the bank feeds or bank reconciliation to double check the deposit. We talked about in prior presentations where we might have an accrual system where we have an invoice. The invoice is an accrual document it increases accounts receivable and accrual form in which case we would then have to receive the payment at a later point in time. So this time we've done the accrual thing and we've looked at the deposits directly. Now we're going to the sales receipt type of format. Now that's the that's the form you can kind of imagine as though you're at a cash register. You have a food trucks or a restaurant type of thing where you're making sales at a particular location and when you make the sales at the particular location you clearly want to record the sale as you're making the sale. In other words I can't make the sale at the food truck or something like that or I wouldn't really want to I wouldn't have as good internal controls if I then wait till I take the money after I made it during the day deposit into the bank and then wait till it clears the bank. The reason that's not typically the way to do it is because then I can't really track the receipts the sales as they happen and match them out and tie them to the deposit. So what we typically want to do then is record the sales as they happen and and then you know make the deposit into the into the checking account in such a way that will match what actually physically goes into the checking account which again is more of a problem with the sales receipts because it's likely that we're going to get different forms of payment which might include cash and might include credit cards both of which are are an issue that I can't record each transaction directly into the checking account because that's not how it's going to appear in the checking account due to the fact that we're going to group multiple sales transactions together when we make the cash deposits at the end of the day possibly or when the credit card batches the deposits together to go into our account. So let's check it out we're gonna we're gonna imagine we're at a cash register we'll go into the sales receipt here and let's just make a new customer again customer number one again I'm making it again because I closed the file down and I'm opening it again and I'm not going to put an invoice in it notice that the sales receipt is less likely that it's going to be an external form it might be you might still be printing this out and providing it to a client for example but it might also be more of an internal report as you record the transactions right so I'm going to say this happened on 01 as opposed to an invoice which is clearly an external form because you'll be emailing it most likely or giving it in some way shape or form to a client so I'm going to say 011524 let's say and we're going to say let's say that this one is going to be a cash sale so we'll imagine that we're getting cash so we'll start the first one with like a check let's say it was a check and I'll say the reference number is the check of that and then if it was a check then maybe I don't need to go to undeposited funds but I can put it directly into the checking account so if you were making if you were using the sales receipts for whatever reason and you were not having to invoice people but they were paying you for one thing at a time possibly a large purchase or something like that and you know that they're going to hit the bank with one at a time like a check with the checks going to hit the bank one check at a time it's not like I'm going to group the checks together or if they're electronic transfers of some kind and you know they're all going to hit the bank one amount at a time and not be grouped together by like a credit card company or by grouping cash deposits together then you might be able to put it directly into the checking account which would be the easy thing to do although note that when it goes into the checking account it'll show us a sales receipt form instead of a deposit form and that makes it a little bit more difficult when you're searching for the increases to the checking account it would be nice if they were all deposit forms but we'll see that in a second so let's go ahead and say this is going to be let's say this is for hourly well let's let's make this one a service item so