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Entering Sales Information, Part 1

Lecture Slides are screen-captured images of important points in the lecture. Students can download and print out these lecture slide images to do practice problems as well as take notes while watching the lecture.

  • Intro 0:00
  • Using Sales Forms - Various Types of Sales Forms 0:07
    • Invoice Overview
    • Sales Receipt Overview
    • Generate Statement
  • Choosing a Template for Sales Forms 6:00
  • Filling in Customer Information 7:54
    • Create an Invoice
    • Invoice in Accounts Receivable Ledger
  • Repeating a Sale - Memorized Transactions 11:36
    • Memorize Invoice
    • Memorized Transaction List
  • Batch Invoices 14:55
    • Create Batch Invoice
  • Entering a New Service Item 20:13
    • Add new service

Transcription: Entering Sales Information, Part 1

Welcome back to Educator.com.0000

This is the lesson where we are going to talk about entering sales information in QuickBooks.0003

The first thing we are going to go through right now is we are going to talk about the various types of sales forms that we can use in our business.0007

That is the most important aspect of your business- is sales. That is why you are in business, is to generate revenue and generate income.0014

And QuickBooks is the system that we want to use to generate and track our income.0022

So, the first thing we are going to do is we are going to look at the various forms that QuickBooks uses in tracking our sales.0030

We might have a transaction where we are selling a product over the counter, where we are collecting the funds at the time of service.0037

That is where we would send them and want to utilize a sales receipt.0045

If we have provided service and product, then, which we will be paid at a later date, then we will want to use an invoice, a sales form called invoices.0051

So, we are going to look at those various forms.0061

From our Home screen, we can get to the invoice by clicking on this icon here.0064

Or if we go up to our icon menu bar, we have the Create an invoice icon menu bar.0071

Or from the Customer menu, we can choose our Create invoices here or even Enter sales receipts here, as well.0077

So, we are going to actually look at the invoice screen just so we can see what it looks like.0085

When we click on our Create invoices, it pulls up the invoice form.0091

And we have various templates that we can use or even create new templates for the invoice.0096

We can actually customize it, put in our logo. We can remove certain lines if we want.0104

So, if we look at this, this particular preview of this invoice, we have all these boxes.0110

If you do not want the boxes, you can actually customize it in the template. We will be talking about customizing forms in a later lesson.0118

But, you can remove these boxes. You could put in your logo.0125

You could change anything you want. You could change the font type, anything you like.0131

You could pretty much customize in QuickBooks for Windows.0136

We will close that window down, and if we click on Previous, it will pull up our previous invoice.0139

And we will notice that it has the customer Bill to information, a Ship to, which could be a different address.0145

It has the items that we have sold to the individual like gas range top, double oven, all these types of items that we have sold to the customer,0154

and also if there is a state tax or county tax related to that, so there is a sales tax involved in this0165

particular customer of which they are paying a 7.5% tax, which will track that for you, as well.0173

So, that is our invoices when we want to collect for services rendered at a later date.0179

If we want to, we will go ahead and close this down, and we will now go ahead and look at a sales receipt.0186

From our Customer menu here, we can choose Sales receipts or Enter sales receipts here, and we can click on Previous, as well.0196

And when we look at the Previous button, it will pull up our last sales receipt for the particular customer, and it will give us the information here, as well.0209

It will show what we have sold to them. They bought some fluorescent lights from our facility, and we charged them the amount as well as a tax.0220

So, they were charged appropriately, and there is, as well, a tax there, so it will give us a sales receipt. Then, we can actually print that.0230

If we Print preview on this particular sales receipt, this is what would print out on your printer.0237

And then, we would give that to the customer. We will click Close on that.0244

So, that is the various forms, some of the forms that we could use.0248

The other thing that we can do is bill them by using Statements, and that is another thing that you can go into a little bit later.0252

And then, there is also Looking at the statements.0262

Customer's statements is typically utilized is when the customer has not been paying their bills,0267

so we can give them a monthly statement based on their activity.0275

And to generate a statement from the customer menu, we can click on and choose Create statements.0278

And then, we can look at the various open items that the customer still owes us from any particular period of time.0286

And it will create these statements for us.0294

So, as we continue to do business and billing clients and they might fall a little behind in their payments, we can generate these statements,0297

then, send them a statement which will give them a summary of all the activity from a given point of time, so that is how we can look at those various forms.0305

And, of course, we want to make sure that we are going to choose the proper form in QuickBooks.0319

We can customize those invoices. We can customize our sales receipts.0324

We can actually use the canned forms that Intuit provides us, which is the Product invoices and Professional invoices and Service invoices.0329

So, we can choose the various different types of invoices that we can generate.0339

I always recommend customizing your invoice using and importing your logo and that, sort of, thing,0345

so that your customers will feel like they are special and that you are doing a good business there.0353

So, the first thing that we are going to do next after we have talked about those various types, we are going to choose a template for a sales form.0361

And I will go ahead and show you those various templates really quick.0371

Under the Create invoice menu, when we create an invoice, we will look at our templates.0376

And we will go to that previous one, and we will Print preview on that.0386

And there is the canned Rockcastle, but there are also other ones. We can look at just the packing slip and see what that looks like.0389

It is a little different. That is a little different than the sales invoice.0397

We can look at the finance charges or even other custom invoices that they have generated,0404

which is a little more sales or ordered here, which will give us what they have ordered.0414

So, there are the various forms that you can use, as well as the custom. Again, I always like to look at customizing your invoice and utilizing that function.0420

Up here in the upper right corner is your Custom button, where you can custom and design your items.0434

And from here, you can actually get those and import your logo from this point of view. You can go into various ranges of what you can put in.0441

So, I always recommend you looking into that and looking at the layout design of which you can use. We will go into this further detail at a later date.0455

So, now, we have gone over the various templates and sales forms.0466

We can now look at filling in the customer information in a sales form, and this is the most important aspect of QuickBooks and your business.0474

We are going to go ahead and complete an invoice from beginning.0483

So, we will generate a new invoice by clicking on Create invoice from anywhere you want.0489

If you want to do it from the Customer menu or the icon menu.0494

From here, we are going to choose a customer here, and here, we will just choose Robert Allard. It pulls him up.0498

We will go ahead and choose an item that we are going to sell to him, and this is going to be a removal.0515

So, we are going to type R-E-M for removal service, and it is going to pull up removal labor.0521

We hit tab, and we are going to put in the quantity of 40. It is 40 hours of removal labor that we have provided for this particular customer.0529

And it will go ahead and pull up the rate that we are billing them of $35 an hour at 40, and that is a $1400 bill.0540

That is non-taxable because it is for labor. It is not a product that we are selling to them.0548

So, there we have it, what we Print preview on this. It will show us what it will look like.0553

We can zoom in on it a little bit more, and we can see what the invoice will actually look like when we send it to Robert Allard.0558

It closed on that, and from here, we can go ahead and create this invoice by saying Save and close.0566

So, now, we have created an invoice for Robert Allard, and we can go ahead and print that at a later date.0579

As we want to print it, we click Choose file. To print forms, we can say Print invoices, and oops, it should be up there.0586

And that is where we would go ahead and print our invoice.0599

So, we go up to our invoice and pull up Robert Allard, the last one we did. We said To be printed or To be e-mailed.0605

We have to make sure that those are checked. It was saved and closed.0613

And then, we can go and print it if we are connected to a printer, and you will see that his invoice is there ready to be printed.0618

If we want to look at how it looks like in the accounts receivable ledger, typically, we will want to go to our Chart of Accounts.0628

Another way to go to our Chart of Accounts is from the Company menu, and we can go all the way down to Chart of Accounts and pull that up.0636

And we can look up the Accounts Receivable by highlighting that and saying Activities, Use register.0643

It will pull it up, and here is our invoice that we just sent to Robert Allard.0650

So, it shows it in the Accounts Receivable, and this is how much he owes us to date.0655

There are other reports we can pull as well, and we will get in the reporting at a little later date, so that is filling out the customer information.0663

One thing to keep in mind is that we can invoice people all we want.0673

But, the number one thing that is up to you is collecting and making sure that those are printed or mailed or even e-mailed.0681

And with these various reports that we will go into at a later lesson in reporting where we can pull up those outstanding invoices that are due as.0688

Now, we are going to go ahead and talk about repeating a sale.0697

So, if we have a particular item that we are always selling to a customer or a particular customer is always using our service,0700

for instance, if we are a pest control service, and we have setup someone on our annual contract to go monthly to their0707

business to do pest control on a monthly visit or weekly visits, whatever it is, we can actually setup recurring invoices.0715

So, we want to go ahead and pull up the invoice that we want to memorize.0725

For instance, if we are going to sell removal labor to Robert Allard, then, we will go ahead and do a memorized transaction for that.0733

So, if we pull up that invoice by clicking on Create invoices, go to the previous invoice.0742

And for instance, he wants removal from his property every month, so we want to memorize this particular invoice.0748

In order to do that, we want to go ahead and click on the Edit menu.0758

Once we have the invoice or the form or transaction that we want to memorize,0764

up and visual, we want to click on the Edit menu and click on Memorize invoice.0769

Here, it is going to say, it can give us a couple of options.0779

We can name it, and we can change this, say Allard Robert, Removal service or something like that.0783

We can say Add to our reminders list, and we might want to remind ourselves monthly.0797

And in the next date, they will give it to us there, and we can always do an automatic entry if we wanted to and have it always do it automatically.0805

But, we are not going to do that. We are just going to have it remind us to invoice this individual for this removal service monthly.0818

We will click OK, and it adds it to our Memorized Transaction List.0828

Now, we want to go ahead and look at that, so let's look at our Memorized Transaction List.0834

From our List, I am going to close this invoice down. From our Lists menu, we are going to look at our Memorized Transaction List.0838

Pull that up, and you will see that there is the item that we just memorized, and it tells us it is monthly for $1400.0848

And the next time we are going to do is 12-15-2016.0859

So, there is our Memorized Transaction List. If we want to look at it, we can double click on it.0862

It will pull up the next one, and we can, then, go ahead Save and close.0868

Or if we do not want to save it, we can always just enter that transaction by clicking Enter the transaction, OK?0872

So, there are various items that we can do. We can actually highlight them all and do all of them at once or as needed when they come through.0880

That is repeating a sales in Memorized Transactions. The next thing that we want to do is maybe there is batch sales.0889

So, we might have a need to bill multiple customers for the same like service at the same time.0901

If we have provided the same service for multiple customers, we can actually do a batched invoice for that service, and we will talk about that next.0910

What we want to do is to create a batched invoice. There are various scenarios that you can use this for.0921

Under our Customer menu, we are going to say Create batch invoices from our dropdown list.0929

It is going to give us a little question Is your customer information setup correctly etc.0936

We will go ahead and click OK, yes. We believe it has been for all of our customers.0942

Here, we are going to go ahead in the Look for. We are going to type in Shed, OK, and we will go ahead and click on Search.0946

And it shows all of the jobs listed here for certain sheds that we have helped build for all these different customers.0957

So, here are all the types of customers or jobs that we have created for.0968

The way we have set up in this particular company is that we have jobs for this construction company.0973

So, if we have a customer, we might have a kitchen. We might have utility sheds.0979

We might have patio decks. We might have various other types of jobs that we setup.0983

As we have labelled each of those jobs by...this one is a storage shed, utility shed, utility shed.0988

All of these others are utility sheds, so we are going to be billing for that type of service.0996

In the billing group, we are going to pull that down, and we are going to type in Sheds and hit tab.1001

And we are going to create a new group called Sheds, and we will set that up, automatically setup that billing group.1011

Now, we are going to go ahead and select all of these customers because we want to bill all of those individuals.1020

We will add those to the billing group Sheds, and then, next, we are going to save that group.1028

So, we saved the group, and now, when we save the group, we are going to click on Next.1037

And in the Quantity area, we are going to type 1, and in the Item code,1042

we are going to type Repair, OK, For repairs because we are going to bill them repair work.1055

And then, the description is Repair work for annual roof, and we are going to say Annual roof maintenance of some sort.1061

So, in the description, we can type in Repair work, and then, we will add in Annual shed roof maintenance, OK, and hit tab.1068

The next thing that now, we have that in there, we are going to bill all these clients for one hour of repair work on their shed roofs.1086

We will click on Next. Here it is.1094

It gives us all of their clients that we are going to bill, $35. There is a tax, which is not really applicable on this because it is for labor.1097

And we can review that, and we can go ahead and click on Create Invoices, and it is going to create an invoice for each of those clients for $35.1108

Now, instead of printing those, we are going to go ahead and e-mail those where we will say E-mail them.1116

And it goes into our e-mail section, and it pulls up each client of each invoice that we are going to be billing.1122

We can review all those invoices ready to be e-mailed. Since we are not going to go ahead and e-mail those, we can close out of this.1129

Just as a side note, under your e-mail, you can actually highlight each invoice for each customer.1139

And if you wanted to edit the standard e-mail, we can go ahead and edit that e-mail to1145

that customer and change the wording, put a personal note in there if we wanted to.1151

Otherwise, just go ahead and send now, but instead of having it sent now, we are going to go ahead and hit Close.1156

OK, now, if we wanted to look at those invoices, we can certainly look at those invoices that we just created and hit Previous, and there they all are.1173

Here is the utility shed for that client, utility shed, utility shed, all those repair work that we can review. Here are the invoices that we just put in.1182

If we also wanted to check our work, too, we can go back to our Accounts Receivable items list into the Chart of Accounts.1190

Go to the Accounts Receivable, and there, we should see all of our utility sheds billings here that we just entered in, the $35 for utility shed repair work.1197

So, that is how we do a batch invoice. The next thing we want to do is talk about entering a new service item.1211

In our business, we may have a new service or a new product that we are going to be selling or providing.1218

In this example, what we are going to talk about now is we are going to talk about how to enter in and create a new service item for our business.1227

I am going to close all my windows down so I have a fresh screen.1236

And the next thing that we are going to do is we are going to go to our Customers menu list, and we are going to choose Item list.1240

Now, the Item list is also under here of Lists, but if you go to Customers, you can go to your Item list because it is related to your customers.1249

Here are all the items that this particular business provides, all the items of service, products and whatnot, as well as sales tax.1259

So, we can see all these different types of items that they provide.1267

Here are some of the sales tax items that they have already setup for their business,1274

so that they can charge sales tax properly for the products that they sell to their customers.1278

In the Item drop down menu list at the bottom left, we will pull that up and click on New.1285

Again, notice how QuickBooks uses the same format in entering new items or new Chart of Accounts or new anything.1293

It is always down the bottom left corner and then, we can click on New from that drop down menu.1302

Here, we are going to choose a new service, and this service that we are going to use is going to be plumbing.1307

I think we would have it already, but we are going to use plumbing as a new service item, and it is going to be a subitem of Repairs, OK?1318

So, we are going to add plumbing service to our repair work, and under the Description field, we might want to say Plumbing repair and maintenance.1331

OK, we will make it lower case, and we will hit tab. Now, the rate that we are going to charge for our plumbing repair work is $55 an hour.1346

The tax code we are going to pull that down, and it is really a non-taxable item, and then, we need to assign this to an income account.1360

So, whenever we do this provide the service for our customers, we need to make sure it is assigned to a revenue account.1370

And here, we are going to type in Construction labor, and it is going to be Labor.1376

We will go down to the Income here. It should be Construction labor, and if we do not have it, then, we will say Construction income.1388

And we want to make sure that we have Labor here.1398

So, from here, I am going to add a semi-colon to the end of it and say Labor, and I will setup that account, so that the construction labor is in there, OK?1404

So, there we have Construction labor that we added, OK? Now that we have our Construction labor, and we have added that, we are going to click on OK to this.1421

And we just added Plumbing service under Repairs for our new service item.1433

Sales forms in QuickBooks are the tools in which we can use to generate our income so we can make1443

sure that we are billing and collecting our revenues for the services and products in which we provide.1450

Thank you very much for joining us at Educator.com, and we will see you again. Thank you.1457