Quickbooks Training Invoices Vs Sales Receipts Whats The Difference

Writen by Jennifer A. Thieme

Invoices and Sales Receipts are not quite the same thing in QuickBooks. Although they both record sales information, that is where their similarity ends. Here is a breakdown of what each does.

Invoices

With Invoices you have more flexibility than with Sales Receipts:

• Estimates or Sales Orders are easily converted to Invoices with a click of the mouse
• With Invoices, all customer sales information is recorded in the Customer:Job list
• Customers may owe the business money when Invoices are used
• Customer payment information is entered as a separate step on a separate screen

Sales Receipts

Sales Receipts are a little more rigid, but are certainly appropriate in many circumstances:

• Although you may use Estimates and Sales Orders, they cannot be electronically converted to Sales Receipts
• With Sales Receipts, customers may not owe the business any money
• Sales information is not tracked in the Customer:Job list when Sales Receipts are used
• Customers' payment information is entered into the Sales Receipt screen, at the time the sale is recorded

Which to Use

Use Invoices if you need to use Estimates or Sales Orders, or you want to allow your customers to pay at a later date than the date of the sale.

Use Sales Receipts if you don't need to track customer sales information, and if you always receive the customer's payment at the time of the sale.

About the Author:

Do you have a specific accounting or QuickBooks problem? Would you like to see an article written about it? Jennifer A. Thieme invites you to contact her today with your accounting or QuickBooks article suggestion. Resolving accounting or QuickBooks issues is her specialty.

Email her today to receive a free initial consultation, free QuickBooks software trial, and a free payroll processing quote.

She's the owner of Solid Rock Accounting Services and has been in the bookkeeping, income tax, and payroll business for nine years. She's a Certified QuickBooks Pro Advisor, and a Registered Tax Preparer. Her clients receive QuickBooks training, general bookkeeping, income tax, and/or payroll processing services.

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