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Quickbooks. Sales receipt or invoice?

An invoice is used when payment is NOT received at the time of sale.

A sales receipt is used when payment IS received at the time of sale.

Do not use both a sales receipt and an invoice. Your income will be

overstated causing you to pay taxes on more income than you earned.


If you have entered both, the best fix is to put in a negative invoice or sales

receipt to offset which ever entry was entered incorrectly. This way you still

have the audit trail of what exactly happened and quickbooks makes it easy

to include comments for explanation.


These errors are usually found in the bank reconcilation.

 
 
 

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