So that’s how you use estimates, invoices, and sales receipts in QuickBooks. And you use a sales receipt when a customer pays you on the spot and needs a record of the payment. You send an invoice when the job is done and the customer needs to pay you.An estimate is what you think the job will cost.Like estimates and invoice, he lists the work he did and then enters the number of hours and his hourly rate. Here’s what Charlie’s sales receipt looks like. A sales receipt is a sales form that is a record that your customer has paid you at the time of service. He spends two hours with her, and Kristy writes him a check on the spot.Ĭharlie whips out his laptop and enters a sales receipt. The next month, Charlie goes to Kristy’s office and spends a couple of hours with her showing her how to create videos for her website. When Kristy receives Charlie’s invoice, she sends him a check. Charlie can then change any of this information if he needs to. QuickBooks transfers all the information from the estimate to the invoice. An invoice is a sales form that requests payment for the work Charlie did.īecause Charlie created an estimate, he can reopen that estimate to create the invoice so he doesn’t have to create it from scratch. Now that the website is done, Charlie creates an invoice. Charlie builds the Website of Awesomeness for Kristy. QuickBooks calculates the totals for him on the estimate. For each part of the project, Charlie lists the number of hours he estimates in the Quantity column and the rate per hour in the Cost column. Because Charlie is a service provider, he charges by the hour. You can see that he’s listed the work he plans to do. One important thing to know about estimates…if you don’t see Create Estimates on the Customers menu, go to your Preferences and choose Sales and Invoicing and turn on estimates there. An estimate is lists out the work Charlie plans to do for Kristy and what he’s going to charge. Kristy Abercrombie needs a new website.Īfter listening to what Kristy wants for her site, Charlie creates an estimate. Charlie gets a call from a potential customer. Now we’re going to look at how one small business owner uses all three of these forms in doing business with a single client. The three sales forms we’re going to talk about in this video are estimates, invoices, and sales receipts. /videos/searchqquickbooks+sales+receipts+vs+sales+order&qpvtquickbooks+sales+receipts+vs+sales+order&FORMVDRE Invoices vs. Sales forms…what are they? In a nutshell, sales forms are what you use with customers to bring in money for your business. The QuickBooks for Mac team presents…”Forms, forms everywhere. You choose the documents that make the most sense for the way your business works.Ever wonder what the difference is between estimates and invoices? And when do you give a customer a sales receipt? Follow Charlie the Web Designer as he uses all three forms. Most customers would be annoyed if you sent every type of invoice you can find. The good news is that you don't need to use all the documentation that's available. If work is taking place over a significant period of time, you might negotiate several payments during the process to defray the costs you're spending on the project and send interim invoices for work completed so far. In large jobs, you may send a pro forma invoice to be sure the customer is aware of how much work is being done and what the final cost will be after the work is completed. Pre-invoices and pro forma invoices are essentially the same documents by different names they give your customer a heads up as to what the actual invoice will be when the work is complete. But you may be wondering about all the different types of invoices you've heard of, the difference between pro forma invoice and invoice, as well as when to send a pre-invoice. Unless you require payment upfront for a product, you don't invoice the customer until the end of the process, after the product has been delivered. When you send a customer an SO as an acknowledgment for their PO at the beginning of the sales process, you're agreeing to fill it at the stated pricing.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |