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. |
