![]() You may directly issue an official receipt.įor large transactions, the A/R clerk will review the approved sales order and bill of lading to ensure that the amount stated in the sales order complies with approved selling prices and that the goods shipped pertain to the items stated in the sales order. If you provide goods and services outright, such as point-of-sale (POS) systems and receive payment immediately, there’s no need to prepare shipping documents and an invoice. Once the goods have been packed and prepared for shipping, the approved sales order and bill of lading should be forwarded to the A/R clerk. The sales order also helps the shipping department account for goods shipped to customers. The inventory quantity in the sales order should reduce the book balance of the inventory account or subsidiary records, if any. The quantity of inventory indicated in the sales order can be used as a basis for updating inventory records. Alternatively, you can delegate this task to the accounts receivable (A/R) clerk-subject to your final review and approval. You, as the owner-manager, can do the credit approval. Read more about syncing over payments for these types of gateways here.If you’re a small business or a solopreneur, you need not have a dedicated credit department to extend credit. Otherwise, the payment will not be synced over - and the invoice will accurately remain as open in QuickBooks Online. If the order was paid with a legitimate gateway in WooCommerce (aka Stripe,, PayPal, etc.) - a payment for the invoice will be immediately synced over to QuickBooks Online to close out the invoice. When the order is placed, it's synced to QuickBooks Online immediately as an invoice. Therefore, syncing a WooCommerce order as an invoice + payment is acceptable. It's displayed in QuickBooks Online as "Open" until a payment is added to the invoice. Orders as an Invoice + PaymentĪn invoice in QuickBooks Online represents a sale you've made that hasn't yet been paid. This is the default/recommended setting for MyWorks Sync. Remember that if an order is placed with a Bank Transfer gateway, for example, the sales receipt in QuickBooks Online will reflect that payment has been received when it has not. This is the default setting for MyWorks Sync but can be changed in our Settings. The only exception would be someone paying for a WooCommerce order with a Bank Transfer or Cash on Delivery type of gateway - where the payment isn't received at the time of order. This is usually a typical representation of a WooCommerce order - where the order is placed and paid for all at once. Therefore, syncing an order as a sales receipt will record the sale, and deposit the payment into the correct (mapped) bank account in QuickBooks Online. Orders as Sales ReceiptsĪ Sales Receipt is an invoice + a payment all rolled into one. Here are the main differences between the two settings. ![]() You should sync orders over to QuickBooks as Invoices + Payments. You should sync orders over to QuickBooks as Sales Receipts. However, the best method to determine this is by answering the following question:ĭo all the gateways in your WooCommerce store collect payment as soon as the order is placed? Using either method, the sale will still be recorded to the correct sales account. The best answer to this is to consult your accountant on their recommendation - and/or check your existing QuickBooks Online company to see how you've been accounting for orders up to this point: whether as a sales receipt, or an invoice + payment.įrom a sales reporting point of view, it technically doesn't matter. Read our Settings documentation for more on this. This setting can be changed in MyWorks Sync > Settings > Order tab. A common question we hear as our WooCommerce Sync for QuickBooks Online users consider syncing their orders to QuickBooks Online is the decision of whether to sync an order as a Sales Receipt or as an Invoice when using our WooCommerce Sync for QuickBooks Online.
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