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Create custom receipt for Retail Trade

hey guys this is claudia here from the bookkeeping experts today we're coming up with um sales receipt i have debra one of our uh subscribers who requested us to cover the subject and we're going to cover it today all right here we go oh yes before we start [Music] let's make sure that we set up your quickbooks into accountant view and make sure on the left hand side click on the gear menu and switch to accounting view mine is already there so it says switch to business view if your account looks different than this so you can navigate better through my instructions all right once once you are in accounting view on the left hand side you want to click on the plus new here you have access to sales receipt now why should you use sales receipt when a customer already paid you and you just want to send a receipt to a customer or record it in quickbooks online if you need um to have the payment processed or you need to send an invoice to your customer you would not use sales receipt you would use invoice and there is a different work workflow for invoices versus sales receipt so we can cover invoice on the next video but today we're going to go ahead and click on sale we're going to cover sales receipt all right go ahead and click on the plus knee on the left hand side menu and we're going to go ahead and click on sales receipt right here and sales receipt is very simple so you get you're just going to go ahead and put your customer name and the date that you receive the money and the product or service you're you're offering let's say here custom design that's good enough for me we want to send this to undeposited funds and the reason why is because in quickbooks online we have a workflow and the workflow will will make sure that all your income transactions are cleared in the bank and not uh reported into your bank and not properly cleared or duplicated or something like that so that's why we send it to on the positive funds because undeposited funds is when you record that the payment has been received but is not in the bank yet once you physically deposit in the bank you will record the um the bank deposit in quickbooks online into the bank that you're depositing the money for the exact amount that you deposit that's very important to to know that so uh i i've seen a lot of my clients uh recording a sales sales receipt for a cash payment that was never deposited into the bank so that's a no-no you want to make sure that when you record the res the sales receipt you send you on the positive funds and then when you record the deposit if you don't deposit in the bank don't record it to the bank you should record it to a cash account for instance and that should be fine right but not to the bank when you don't deposit to the bank all right so here's the receipt we're going to say that um design for 75 and the date is the date that um i got paid oh once again sales receipt is only when you already been paid and then you can save and send all right here's just saying that we already got your money so your sales receipt is attached thank you for your business we appreciate very much or you can modify that if you'd like there is ways for you to customize the sales receipt as well as the invoice um we can we can talk about that but here we can go ahead at this point and save and send okay all right so it says that the email was not said because this is a simple company yeah but if it's not a simple company then yes you will receive that all right so uh i talked to you about customizing your sales receipt and the way you customize once you open your cells you see it on the top right hand side see the little gear menu okay you can open up the gear menu and make changes there oh i'm sorry on the left bottom they changed that yay okay on the bottom of the page on the black customize right here and you can use standard or it can do a added current or new style right new style if you click there you can add your your unique logo so you can just click here and download it from your computer uh you can put some color on it so um and just modify in whatever way you want it okay even change the font if you want and same thing for the for the invoice okay we're going to talk like i said we're going to uh talk about invoice at another time so uh once again we just recorded the sales the sales receipt we send it to the customer and now we're going to record the deposit so we deposit to the bank uh and in this case we we didn't deposit in the bank we deposit into the cash account if that's the case this is how you're going to record it bank deposit and see where it says checking here you want to make sure you click here and in this sample account there is no patty cash but uh we can create right now so cash at hand can call it cash of hand or just rename it as petty cash okay we're going to select us that transaction the date and then we can go ahead and save this save and close to the petty cash if you want to see this deposit you can go ahead and click on accounting uh we can go ahead and go to chart of accounts and this is our cash on hand and if you could click on view register there it is the deposit that we just reported into um cash cash at hand if this was not the case if this amount was actually going into uh your bank account i'm gonna go ahead and show what to do in that case so let's suppose that cool's car here uh we're gonna go ahead and uh this this is actually a payment into an invoice uh but if it was a sales receipt it would be the same thing so we we would select the transaction sales receipt or invoice payment in this case we're going to go ahead and change this to checking the date that was deposited in this case i'm going to change it here to june let's suppose it was done on june 27th and we're going to go ahead and save and close we're going to go ahead and go to banking right now on the left hand side click on banking and we're going to go ahead and go to the right bank account and we're going to find that transaction that is matching so that happened oh this one is not matching okay it's not matching it's a sample account guys so that transaction is not even here but let's suppose it is here so what we're gonna do is make sure that when you match it you're matching to a deposit you're not matching to a payment and the reason why you want to do that is once again to follow that workflow sales receipt will be required a sales rep seat into undeposited funds then require the deposit going into the bank account okay now uh for some of you you may have noticed that the undeposited funds have changed the name and they are calling it uh deposit or money not the not deposited but basically it's the same thing it's undeposited fund means that uh money that you have not officially gone to the bank and deposited in the bank all right so i hope that this was useful to you if you like this video please subscribe to our channel we like to come come up with different kinds of tutorials and quickbooks online to make your life easier my greatest pleasure in life is to make sure i can help you understand quickbooks online and i really get excited to hear people that are being able to understand how the whole process works and being able to catch up with their books and be able to understand where they are financially the importance of knowing your point of reference as i talk in prior videos is the key to your business success not knowing where you are in the map it's kind of like driving with no direction or even or even worse um just trying to drive on a road with uh with your eyes closed it really is the receipt for a disaster so um one thing that i always tell my customers is that if you only go to your accountant once a year to file your taxes that is not enough you need to understand the whole process of your business how you are how you're doing how's your expenses how's your income where are your best customers who are they and why are they buying what are the products they're selling the most and things like that if you're not a product if it's not a product that you sell what kind of services are you selling the most or providing the most where is your revenue coming from and where's your expenses your costs uh going to so it this information is the key for knowing uh how you should properly manage your business to take it to the next level understanding the cash flow wow how important is that knowing how much money you have to continue growing your business and making sure that you are not charting cash um with the economy the way it is it's always good to know um and that those little steps are the little steps that are going to make all the difference in your business it's kind of like an athlete you know those little extra efforts that an athlete puts in order to succeed is what makes a difference for an athlete to either take first place second place or not place at all so same thing with your business those extra steps of understanding your financials is the key for you to stay ahead of the game alright so i hope you like this video like i said give us a thumbs up if you do so and subscribe to our channel when you subscribe to our channel we're gonna bring the best tutorials to help you understand your quickbooks online i hope to see you again thanks again for watching our video today and until next time keep on smiling