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How do I process sales and returns in QuickBooks Point of Sale?
As you would expect, QuickBooks Point of Sale helps you process your sales and returns of merchandise and
services. While there are a number of tasks that retailer performs on a daily basis, selling your merchandise is by
far your most important!
There are three basic types of sales transactions:
The Sales Receipt
The Sales Receipt in QuickBooks Point of Sale records the most common of retail transactions; the sale of
merchandise where the customer pays at the time of the sale using one of a variety of payment methods, including
in-store charge accounts. The Sales Receipt in QuickBooks Point of Sale provides a permanent record of the
transaction in the programs sales history.
Sales Returns and Exchanges
It's a fact of the retail world that customers change their minds. Merchandise is returned and depending on your
store policies, you may give the customer a refund or allow them to make an exchange. The return receipt in
QuickBooks Point of Sale provides a permanent record of the transaction in the sales history.
Customer Orders
Sometimes a customer wants an item that you don't currently stock, or you may want to offer lay-aways to your
customers. Maybe you want to provide and estimate for stock items and services to your customers. QuickBooks
Point of Sale has three types of Customer Orders to allow you to do all these functions along with taking up-front
deposits or payments over time. The three types of customer orders are:
Processing Sales and Returns
When you record a sale using a Sales Receipt, QuickBooks Point of Sale makes the following changes to your data
file:
Additionally, if you use QuickBooks Financial Software along with the Point of Sale software, entries are made in the
financial software to reduce the value of the Inventory Asset and Cost of Goods Sold in increased by the same
amount.
services. While there are a number of tasks that retailer performs on a daily basis, selling your merchandise is by
far your most important!
There are three basic types of sales transactions:
- Sales Receipts
- Sales Returns and Exchanges
- Customer Orders
The Sales Receipt
The Sales Receipt in QuickBooks Point of Sale records the most common of retail transactions; the sale of
merchandise where the customer pays at the time of the sale using one of a variety of payment methods, including
in-store charge accounts. The Sales Receipt in QuickBooks Point of Sale provides a permanent record of the
transaction in the programs sales history.
Sales Returns and Exchanges
It's a fact of the retail world that customers change their minds. Merchandise is returned and depending on your
store policies, you may give the customer a refund or allow them to make an exchange. The return receipt in
QuickBooks Point of Sale provides a permanent record of the transaction in the sales history.
Customer Orders
Sometimes a customer wants an item that you don't currently stock, or you may want to offer lay-aways to your
customers. Maybe you want to provide and estimate for stock items and services to your customers. QuickBooks
Point of Sale has three types of Customer Orders to allow you to do all these functions along with taking up-front
deposits or payments over time. The three types of customer orders are:
- Sales Orders - records the sale of either in-stock or special-order merchandise and keeps track of
customer deposits related to that order.
- Layaways - Holds an in-stock item while a customer makes a series of payments over time against the total
price
- Work Orders - Used to record the sale of services and stock items. This form records deposits for work
performed and can be used to provide estimates
Processing Sales and Returns
When you record a sale using a Sales Receipt, QuickBooks Point of Sale makes the following changes to your data
file:
- Income, sales tax and form of payment are recorded
- The on-hand quantity of inventory is reduced
- If you choose, the customer making the purchase is recorded
Additionally, if you use QuickBooks Financial Software along with the Point of Sale software, entries are made in the
financial software to reduce the value of the Inventory Asset and Cost of Goods Sold in increased by the same
amount.
To open the Sales Receipt, go to the Home page and click on "Make A Sale"
The New Sales Receipt screen opens. At this point, you can
use the bar code scanner to identify the item being sold or
use the key board to type in identifying information. You can
also indicate the cashier making the sale and the associate
responsible for the sale.
use the bar code scanner to identify the item being sold or
use the key board to type in identifying information. You can
also indicate the cashier making the sale and the associate
responsible for the sale.