How to Enter Store Receipts into QuickBooks?

Adding store receipts into QuickBooks offers a route to monitor transactions and provides a comprehensive record of every sale. Companies offer one receipt to the customer and store a copy of the other receipt by either printing it or by storing the information automatically in a particular electronic Point-of-sale system.

Businesses that store only the physical copy of a receipt must enter the data into QuickBooks manually. By adding the transactions into QuickBooks it is possible to run retailed reports and offer comprehensive accounting information.

Here is how you enter Store Receipts in QuickBooks. Let’s learn about the process in detail.

How to Enter Store Receipts in QuickBooks?

Here you can follow the below mention steps to enter store receipts in QuickBooks.

Step 1: Launch the QuickBooks software and press the Customers menu. Now click Enter Sales Receipts.

Step 2: Press the Daily Sales summary from the given template drop-down. Now you can also choose New Template and enter all the related fields that are available.

Step 3: Add Register Summary in the drop-down menu filed of Customer: Job. Press Quick Add in case you have not made a Register Summary. Or else, press Set Up to make a new record.

Step 4: Add the transaction cost of every item on a different line in the particular Amount column. Then, enter a number for the particular quantity for every item in the given Quantity column.

Step 5: Press right-click on a particular empty line right underneath the last transaction and choose Insert Subtotal Line from the provided options. Right below the subtotal line, add the total tax from the particular sales receipts in the given Tax column along with the sales tax percentage in the given Rate column.

Step 6: Press the payment type method from the drop-down menu for Pay Method. In case the customer has paid via two separate payment methods, you should create a different receipt for every portion of the particular payment.

Step 7: Add the total received for the particular items in a different line as a negative number in order to display the deduction from the items cost charged to the particular customer.

Step 8: Make the last row that displays the overall amount the customer has given for the transaction. The final amount in the total section of the particular receipt must display a zero balance.

If the total number is negative, enter Overage in the particular final item line of the sales receipt and add the total amount from the given Total section shown as a positive number.

In case, the number is positive, enter Shortage in the particular final item line of the sales receipt and add the overall shown as a negative number.

How to Enter Cash Receipts into QuickBooks?

Here are the steps to enter cash receipts into QuickBooks:

Step 1: Navigate to QuickBooks and choose Lists. Then click Chart of Accounts. After that press the Account from the given drop-down. Now choose Bank and then press Continue.

Step 2: Add a name for the particular account in the given account field like Cash Drawer or Petty Cash. Select the opening balance as 0. Choose the present date from the as of field. Press Save and Close option.

Step 3: Choose the List menu. Now select Chart of Accounts. Now select the petty cash account that you have built.

Step 4: Then add a payee or else you can keep the field blank which makes it convenient to monitor the information for you if you need it. Add the receipt amount in the given Payment column and then go on to the following line.

Step 5: Choose the particular Account drop-down. Select the expense account with which you wish to link the purchase. Press the Splits if you require dividing the money between accounts. Press Record.

How Can You Add Paper Receipts to QuickBooks Online?

Here is how you can upload paper receipts to QuickBooks Online:

Step 1: Open the particular QuickBooks Online app on your mobile.

Step 2: Open the particular app and then click on the icon for Menu.

Step 3: Press Receipt snap.

Step 4: Press on the icon for receipt camera icon and take a photo of your particular receipt.

Step 5: Press Use this photo and then click Done.

Hope the process and steps involved in entering store receipts into QuickBooks are clear to you. We have provided all the steps in order for you to understand and apply them to resolve your QuickBooks problem.

Do you still think you need assistance or professional help? Then worry not. We are here for you. Our Dancing Numbers team of experts and professionals who have handled such problems in the past can provide an effective solution to you in minutes.

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