Most of the reports in QBO, you can’t customize the way you want it. Just wish, they’ve simple weekly sales reports filter by sales transaction type like Sales Receipt but they don’t.
The ideal report in QBO would be SALES BY CUSTOMER SUMMARY group by week. But this report you can’t filter it by Transaction Type to get Sales Receipts only.
In the meantime, you can run TRANSACTION LIST BY CUSTOMER report to get the data.
Report period = select as needed
Rows/columns Group by = Week
Customize > Filter > Transaction Type = Sales Receipt
You can make this My Custom Reports by clicking Save Customization button at the top right. Next time you will see this in My Custom Reports tab,
Price Rules is currently available in Plus plan only. It’s not available in Essentials and Simple Start plans. Customer type is linked to price rules feature at this time.
Using pricing level you can establish different price points for Customer, more helpful for inventory items. But with customer type, you can filter the sales report which is probably helpful data to all the users
How to set up and use special pricing for selected or all customers in QuickBooks Online?
1. Setup New Customer Type (Dashboard > Sales > Customers > Customer types > New Customer type).
2. Turn on Price Rules (Gear > Your Company > Account and Settings > Sales > Products and Services > Turn on Price Rules).
3. Setup New Price Rules (Gear > Lists > Products and Services > Drop-down arrow under MORE > Price Rules).
4. Create Invoice or Sales Receipt (Create + sign > Customers) > Select (or use default) Price Rules under Rate column.
Educational and Instructional Video:
QuickBooks Online QBO Price Rules (aka Price Levels) – Special pricing for selected or all customers
I’ve not seen a single article from QuickBooks Help related to this subject on how to record Sales Tax refund check in QuickBooks Online. Most of the answers found don’t work or whoever answered the questions does not fully understand how Sales Tax Center is so limited to making any credit/refund adjustments. It’s not clear this functionality is even available in QBO.
What I found as a workaround is to create a Sales Receipt in QBO. Ths assumes negative balance is already shown in Sales Tax Center. In other words, you’re expecting this refund from the Tax Agency.
These are the steps to follow in creating a Sales Receipt:
For Customer field, create a new one (example zSales Tax Adjustment) or leave it blank still works.
Select deposit to bank account.
Select same Products/Services items, one as a taxable item and another one non-taxable item.
With taxable sales item, it should compute sales tax refund amount at the bottom. In this example shown in the screenshot below, taxable sales amount is $21,750, the tax rate is 8% and received $1,740 refund from Tax Agency.
Transaction reference numbers help you easily identify transactions. QBO will automatically assign transaction numbers in sequence. But if you want to change the starting custom transaction number of your own, you can do so. You would want to turn the company settings ON once, assign a custom number and turn it OFF again so that QBO can identify number sequence based on the last transaction number.
A separate number sequence appears on:
Invoices, sales receipts, refund receipts, and credit memos
Delayed charges and Delayed credits
For Statements, QBO will automatically control the numbers that reference identify so you can’t change it.
QBO lets you customize your transaction numbers.
How do custom transaction numbers work?
When you turn ON custom transaction numbers:
You can change transaction numbers when you create or modify a transaction.
Transaction numbers can include letters (such as 2017-1001).
New transactions get new numbers (such as 2017-1002), based on the last transaction. You’ll be warned if you try to enter a duplicate transaction number.
When you turn OFF custom transaction numbers:
Transaction numbers are never changeable, even numbers created with custom transaction numbers on.
Transaction numbers are assigned when transactions are created.
Transaction numbers are sequential, based on the last number, starting at 1.
To turn custom transaction numbers ON or OFF from the company settings:
Click the Gear icon at the upper right corner > Your Company > Account and Settings).
For customer transaction numbers on sales forms:
Click “Sales” on the left, and then click the edit icon for “Sales form content”. Select the “Custom transaction numbers” checkbox, and click Save.
For custom numbers on purchase orders:
Click Expenses on the left, and then click the edit icon for Purchase orders. Click the “Use purchase orders” checkbox. Select the “Custom transaction numbers” checkbox, and click Save.
To reset your transaction numbers again:
Select the Custom transaction numbers checkbox, and click Save
Create a transaction with a new starting number.
Clear the Custom transaction numbers checkbox, and click Save.
In this free video tutorial, you will learn step-by-step instructions on how to create sales receipt template using bundle feature and also how to enter daily sales summary using that template. This video tutorial is specifically designed for retail, service and restaurant businesses. If you’re a bookkeeper or office staff whose job tasks include entering daily sales summary into QuickBooks, this is the video you must watch. Watch this video in its entirety and you will know how to handle daily sales summary the right away.
We received a credit card payment from customer A ($334.00) and sent a credit card refund ($1,000.00) to customer B on the same day. This resulted in a net negative deposit ($666.00) from our credit card merchant provider. How to match a refund receipt and a regular receipt in order to properly match the deposit in our bank account from the bank feed.
QuickBooks Online won’t allow creating a negative bank deposit. If the total deposit is negative, you will need to create a Journal Entry to move the funds from Undeposited Funds to the bank account.
Here’s how to create that Journal Entry and move the funds from Undeposited Funds account to Bank account.
Click the Create (+) at the top of your Home screen.
Choose Journal Entry from the drop down (if you don’t see it, try clicking Show more).
Set the Date of the transaction (same as bank posted transaction date).
On the first distribution line of the Journal Entry:
In the Account column, choose Undeposited Funds.
In the Debit column, enter the amount of the deposit.
On the second distribution line of the Journal Entry:
In the Account column, choose the appropriate bank account.
Set the Credit column to the amount of the deposit.
Click Save and close. This will show a deduction from the bank account in the Bank Register in QBO.
Next, you will want to group the Journal Entry with the payments to create a $0 deposit and remove the payments from Undeposited Funds.
Click the Create (+) at the top of your Home screen.
Choose Bank Deposit from the drop-down.
Select the payments (negative and positive) and the Journal
The entry you just created (the total should be zero).
Click Save and close.
Next, go back to banking center (bank feed). You may see MATCH now for that transaction. If not, click that transaction row for refund receipt. Locate and match transaction from the list there. Save.
QuickBooks Online QBO – how to match negative credit card daily sales receipts | refund deposit
These are the specific steps you can follow in QuickBooks Online (available in plus plan only) if you are donating or giving away tracked quantity on hand inventory items.
Create ZERO Value Sales Receipt for Inventory Items:
1. From the Home Page screen > click Create (+) Sign (top middle bar) > Customers > Sales Receipt and create a Sales Receipt for the inventory item.
2. Choose a customer (name of donating company). Add new if needed.
3. Select Item Donation as your Payment Method. Add new if needed. Optional.
4. For “Deposit to” field, select Add new and create bank category type account. Name it clearing account. (This will create just a zero dollar transaction. You would not have any actual banking transactions in this bank register).
5. In the Product/Service column, click the drop-down arrow to select the product/service you are donating.
6. Change the Rate of the selected product/service to zero so that the total of the sales receipt is zero.
7. Click Save.
8. Click “More” at the bottom. Select Transaction Journal report. This will give you the original cost of the inventory items you are donating. Print as PDF or select export to excel. Do the same for the Sales Receipt.
Next, to account for the original cost of the product/service(s) selected, create a Journal Entry to move the cost out of the Cost of Goods Sold account and into the appropriate expense account (for example, Charitable Donations Expense).
To record this:
1. Click Create (+) sign > Other > Journal Entry.
2. In the Account section, choose the expense account used to track charitable contributions (for example, Charitable Donations Expense).
3. Enter the cost of the product/service in the Debit field.
4. On the next line, click the drop-down arrow and select the Cost of Goods Sold (COGS) account for the donation.
5. The cost of the product/service entered in the field above will populate the Credit field.
6. Click Save.
7. Optional. Attachments (bottom left) for the record. Attach Transaction Journal (that gives you how you got the cost of the donated items) and Sales Receipt.
QBO is not set up to go from Estimate to Sales Receipt at this time. Currently, you create Estimate and then “copy estimate to invoice” to create an Invoice. There is no partial copy so it’s done just one-time. You receive payment against that invoice.
Workaround steps from Estimate to Invoice may also work as faster as creating from Estimate to Sales Receipt approach. Follow these steps, it may work as an alternative to Estimate to Sales Receipt.