Summary

In this chapter, you have learned how to record sales transactions for the sale of products and services using a sales receipt, a deposit, and a sales invoice. You now know when to use each sales transaction and how to record them in QBO. We have also covered the journal entry that is recorded behind the scenes by QuickBooks for each transaction. To put your best foot forward, we have shown you how to create professional-looking invoices, sales receipts, and estimates by adding your brand colors and logo. In addition, you have learned how to record customer payments so that they are correctly applied to open invoices. We have also covered how to manage credit card payments by signing up for a QuickBooks Payments account. Finally, we covered how to issue credit memos and refunds to customers. Recording sales transactions will allow you to keep track of how much money your business is making. This is important so that you can determine whether your business is profitable or...