Accounts Receivable

Sales Orders can be written from:

  • Clients’ written Purchase Orders or

  • From verbal orders.

Estimates can be written for clients’ needs.

Sales Receipts can be issued for “On the spot” sales that are paid at the same time the Sale is made.

Invoices can be produced from both

Sales Orders and

Estimates in Quick Books,

either for the

whole Sales Order or Estimate or

for the partial one.

Once an invoice is made, an account receivable asset is produced.

Payments received by cash, check, credit card or otherwise should be copied twice, making a total of three copies:

For the client’s separate folder (Cash, Check, Credit Card Or Otherwise).

For the Bank Deposit record (Check or Cash).

For the Credit Card Batch record (Credit Card Only)

In Quick Books, when payment is received for an invoice, it can be recorded:

Directly on the invoice at the time of the sale

As a “Received Payment” if received after the time of sale.

 If received via credit card:

It can be input manually and directly on the invoice at the time of the sale.

It can be input manually as a “Received Payment” if received after the time of sale.

It can be input electronically as a “Received Payment” by swiping a credit (or debit) card on a card scanner attached to your personal computer.  This transaction is automatically entered into Quick Books.

It can be input electronically as a “Received Payment” by inputting the credit card manually into Quick Books.  If the correct zip code is associated with the Customer:Job in Quick Books, the rate paid for processing the credit card will be lower than if no zip code is associated with the  Customer:Job

 It can be input solely as a “Received Payment” by inputting the credit card manually into Quick Books.  In this case the credit card would be processed using another machine, not connected to your personal computer.

Whether the credit card payment is produced through your personal computer or by another machine, the resulting copy of the credit card receipt would be filed:

In the case of the personal computer, in a loose-leaf notebook for 8½” by 11” paper after being punched with a 3 hole punch.  The spine of this notebook should read “Credit Card Receipts Entered Directly to Quick Books,”

In the case of another machine, the day’s credit card receipts would be put together with the day’s batch report (using a binder clip) and filed in a “Credit Card Receipts To Be Entered” file, usually a small 1-31 accordion file, depending on the volume of receipts of this type.

Company Bookkeeper(s), after having entered the credit card receipts in the “Credit Card Receipts To Be Entered” file, into Quick Books, will stamp “Entered,” and the date of entry on each of the credit card receipts processed.  Batches will then be stapled together and filed in yet another file location called “Credit Card Receipts Entered,” usually a small 1-31 accordion file, depending on the volume of receipts of this type.