Importing Sales Data into Quickbooks

You can enter a single sales receipt to report the total daily sales in QuickBooks if you use a separate Point of Sale system. Or if you simply don't invoice customers. This saves you time, while still keeping your income reports accurate.

Here's a step-by-step guide to help you get you started.

Step 1: Create a customer for daily sales

You'll only use this customer account on your "end of day" sales receipt.

1. From the left menu, select Sales, then Customers.
2. Select New customer.
3. Enter "Daily Sales."
4. Select Save.

Step 2: Set up accounts for daily sales

Make sure your Daily Sales accounts are set up right. Doing so can help you a lot with accurate income reporting.

To set up daily sales accounts:

1. Select the Gear icon on the Toolbar.
2. Under Your Company, choose Chart of Accounts.
3. Select New at the top right.
4. Set up these accounts:

Step 3: Set up items for daily sales

Set up a "Daily Sales" category to keep your items organized:

1. Select the Gear icon on the Toolbar.
2. Under Lists, choose All Lists.
3. Select Product Categories.
4. Select New Category at the top right.
5. Name the new category "Daily Sales."
6. Select Save.

After setting up the Category, next are the items:

1. Select the Gear icon on the Toolbar.
2. Under Lists, choose Products and Services.
3. Select New at the top right.
4. Set up these items.Note: Make sure to select Daily Sales as Category for each item.

Step 4: Create a daily sales template

You'll use this template every time you need to record total daily sales.

1. Select the Gear icon on the Toolbar.
2. Under List, choose Recurring Transactions.
3. Select New at the top right.
4. From the Transaction Type drop-down, choose Sales Receipt.
5. Name your template "Daily Sales" and make sure the Type is Unscheduled.
6. Select Daily Sales as the Customer.
7. Select these items:
   1. Daily Sales: Daily Sales Income
   2. Daily Sales: Cash
   3. Daily Sales: Cheque
   4. Daily Sales: Visa/Mastercard
   5. Daily Sales: American Express
   6. Daily Sales: Overage/Underage
8. Select Save.

Remember

• Mark the "Daily Sales Income" item taxable if you collect sales tax.
• Make sure your sales tax rate is correct.

Step 5: Record your total daily sales

Done setting up your sales receipt template? You're now ready to record your "end of day" sales.

1. Select the Gear icon on the Toolbar.
2. Under Lists, choose Recurring Transactions.
3. Find your template, then select Use from the Action drop-down.
4. To better illustrate how your sales receipt should look like, check out a sample breakdown of total daily sales below.

Total end of day sales example:

• You have $1177.20 in total reported sales ($1080 sales income, plus $97.20 sales tax).
• Your cash register count is $327.
• The total of cheque payments is $316.10.
• Sales through Visa/Mastercard is $343.35.
• Sales through Amex is $87.20.
• You have a cash shortage of $16.35.

Step 6: Deposit your total daily sales

Record the actual amount of fund deposited to the bank. This step is important for making sure your deposits match what's shown on your bank statement.

Keep in mind

• Record the deposit for Discover, Visa, AMEX, or Mastercard as soon as you receive the funds from your merchant service provider.
• Also, record a bank deposit as soon as you deposit cheque payments.

To record the deposit:

1. Select New ⨁.
2. Under Other, choose Bank Deposit.
3. Select the bank account from the Account drop-down.
4. In the Date field, enter the deposit date.
5. Select the group of payments included in the deposit.
6. Select Save.

To import sales receipts, follow this article and then Click Here.