To let your customers know how much they owe you and for what products or services, it is pretty important to create a sale receipt. It is a normal part of doing business. In fact if you’re running a company, it is important to pay close attention to sales receipts. To make it easy, QuickBooks accounting software offers such amazing features for both to create invoices and record payments. This also helps you in maintaining such payment records or creating invoices. In QuickBooks, you can create a sales receipt any time or immediately when your customer pays for products or services at the same time of sale. To explore more, continue reading this write-up till the end and also get aware of the processes for how to change the sale receipt number in QuickBooks software.
What is a sales receipt in QuickBooks?
A sales receipt is a record of a transaction. This document acknowledges that the vendor has been paying for products or services in its most basic form. The seller is required to issue a receipt and send the buyer. Only after the goods have been delivered or the services have been rendered, and the customer has paid in full, then only the receipts should be provided to the customer.
Partially issued receipts are possible in some situations. This can happen when a customer pays in installments for a high-priced item or when a recurring service is provided and paid for. The remaining amount is normally shown on the receipt when this occurs.
What information does a Sales Receipt Contain?
Receipts are available in a variety of styles. In most cases, you have complete control over the creation of a document that fits your needs. Receipts should provide detailed transaction details in order to be useful. Below listed are few examples for common elements:
- Each product or service’s name and/or UPC
- Each product’s or service’s quantity
- The cost of each good or service.
- The net cost of the transaction
- Sum of tax and the rate of sales tax
- The net cost, including taxes
Receipts must be correct and complete when it comes to filing taxes. It’s a good idea to add the following to remain on top of CRA standards:
- The seller’s GST/HST identification/registration number
- Name of the company
- The sale took place on this date, at this time, and at this location.
- Company contact information, such as a phone number, email address, or website URL, and more.
Steps to create and send a sales receipt in QuickBooks?
- In the beginning, select + New button >> Sales Receipt
- From the Customer dropdown, you have to select the Customer
Note: Pick Add a new customer if you haven’t already done so in QuickBooks.
- Next, you have to enter the sales information such as payment method
- For the products and services that you sold, you have to enter the line items for the same
- Once you’re done then select the “Save and send” to email the receipt.
Quick and simple steps for how to change the sale receipt number in QuickBooks:
There are multiple circumstances when you are required to change the number of sale receipts. They may be when you want to make a unique number for any particular sales receipts to easily rectify for multiple purposes and many others. No need to worry! You can make it possible by following the below listed steps that helps you to find the sales receipt and change the number. Let’s see how:
- First, select “Sales” on your left side pane
- Next, go to the Customers and select it
- Now, find and click on the Customer’s name
- Select the sales receipt from the Transaction List tab
- In the Sales Receipt no. field, you have to enter a correct number
- At last, click on the Save & Close tab.
Hopefully, the above write-up will be helpful for you and using the steps you can easily change the sale receipt number in QuickBooks. Always remember with an efficient creation of a sales receipt and management system, you can keep track of your finances and stay on top of financial records.
Frequently Asked Questions
Ans: Yes, you can edit it, but for that you have to first turn on the custom transaction numbers. Allow me to demonstrate how you can do so:
To start with selecting “Account and Settings” from the Gear icon
Next, go to the “Sales” tab and select it
Now, click the Pencil icon on the Sales form content section
Check the box named “Custom transaction numbers”
In the end, click Save followed by the “Done” tab.
After done with that, you can now easily edit the sales receipt number.
Ans: The last sequence from a previous sales receipt would be automatically picked up by QuickBooks Desktop. And if you remove the “-W” suffix from saved receipts, it will still appear on the next one (since it isn’t technically a new transaction).
Ans: As you already know QuickBooks automatically pick up the last sequence from your previous sales receipt. To stop it coming again and reset the sequence of sales no. numbering, simply delete/remove the suffix from the current sales receipt before saving it. QuickBooks will begin using the next series without it.