You can record tips (gratuities) directly to Sales Receipt form.
To enable Tips in QBO:
From the homepage dashboard, click Gear icon at the top.
Select Account and Settings under Your Company.
Choose “Tips (Gratuity)” under Sales form content.
“Who’s receiving these tips?” a screen will open. Select the correct account (income or liability).
For Income, select “Just me”. This means you’re recording tips earned by you.
For liability, select “My team”. This means you’re recording tips earned by your employees/contractors to be distributed later.
The default Tips account can be changed from (Just me to My team or vice versa) from Gear Account/Settings under the Advanced tab. Change Tips account from the Chart of Accounts.
Tips can also enabled from inside the GoPayment POS App.
Currently, Tips feature is only available on Sales Receipts (not on Invoices).
It will show as viewed whoever viewed it (primary or cc). If it’s viewed by both it will show as viewed twice.
Viewed Status Icon: If you open sales transactions (left navigation bar > transactions > sales) under status column, it will show many have opened the invoice and viewed it. It will show one black icon if viewed by one person or two black icons if viewed by both. See attached screenshot.
(Note: In case, you do not see Status column and need to add, go to middle Gear at the far right and select show more and add status column).
Invoice Activities: Open the invoice in question from the sales transactions or directly from customer center. Under activities (below invoice balance due, next in line to attachments), it will show invoice viewed with date and time record. But it is not possible to identify who actually viewed it (primary or cc person), especially if viewed by just one person unless one or both replied with the message. See attached screenshot.
Run Transaction Detail by Account report.
Customize > Lists >
Transaction Type = Invoice
Distribution Account = All Income Accounts
Change report title (optional) = Income by Invoice
This customized report should show income by invoice. Filter for Invoices for the time period as needed. You can further customize the columns (add or remove) by selecting “Change Columns” button.
Save Customizations button, to make it your own customized (memorized) report.
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Case: A customer bought $105.00 worth of product and paid $80.00 in cash. You need to send an invoice to the customer for the balance. How would you handle this in QBO?
First, create a new invoice using product/service item code for $105.00. Use deposit field to post $80.00 as the prepayment on that invoice. Deposit field is located right below the total. Now, the invoice will show $25 balance due.
If you do not see “DEPOSIT” field on your invoice, go to “Company Gear” settings to enable deposit field: Gear icon (upper right corner) > Settings > Company Settings > Sales > Deposit > ON > save. See screenshot below for reference.
Click on the screenshots below to enlarge them
Once you enter deposit amount, your invoice screen will expand to show the following three fields added to the invoice form. Fill out the information appropriately:
a) Payment method
b) Reference no.
c) Deposit to
You will need to select “Deposit to” field depending on your situation. If you are depositing this deposit (prepayment) to the bank along with other payments as a batch deposit, then you should select Undeposited Funds Account. On the other hand, if you are depositing just $80.00 as a single deposit to the bank, you should select the appropriate bank account.
The snapshot below shows what accounts are affected by this transaction:
1. Accounts Receivable: $25
2. Sales Income: $105
3. Undeposited Funds or Bank Account: $80
Statement of cash flow is a financial statement that shows how changes in balance sheet accounts and income affect cash and cash equivalents, and breaks the analysis down to operating, investing and financing activities.
First, the report run is based on an accrual basis accounting method in QBO. It is hard-coded so you can not change it to cash basis method nor can be edited for any preferences to classify cash like in QuickBooks desktop versions.
In QBO, they also have the following three standard sections for the cash flow analysis.
It shows the amount of cash earned from profit, where you received additional cash and where your cash was spent. It uses all Bank type accounts from your chart of accounts. It also includes “undeposited funds account” from other current assets type.
The Statement of Cash Flow assumes that all activity through current assets and current liabilities are OPERATING ACTIVITIES. It also includes “accumulated depreciation” from fixed assets type.
Any entries that affect fixed assets (at original cost, less accumulated depreciation) are INVESTING ACTIVITIES. It also includes “other assets” type.
Any entries that affect long term liabilities and equity are FINANCING ACTIVITIES.
Here is how the standardized list of mappings for the different category type assigned to a section of the Statement of Cash Flow in QuickBooks Online.
Fixed Assets (original cost)
Long Term Liabilities
Here is detail account list of category type (for balance sheet accounts from the chart of accounts) sorted by activities.
There is no built-in business report available by Sales Rep in new QBO at this time. By using available custom field on the sales forms (invoice and sales receipt), you can easily get the information by selecting and customizing standard built-in “SALES BY CUSTOMER SUMMARY” report.
This quick and easy tutorial video shows you how to customize sales report by sales rep for tracking sales and manually computing sales commissions in the new QuickBooks Online (QBO).
Here is another top-rated tutorial video by VPController for newQBO.com. We encourage you to watch the entire video.. You do not want to miss a step!