QuickBooks users find it easy to maintain a record of their cash receipts in their accounts. As a user, you can not only record or enter them in QuickBooks but also in its other versions. These versions mainly range from QuickBooks Desktop to QB Online. If you are willing to record the QuickBooks cash receipts, then you may either proceed with the Chart of Accounts option or the Custom Reports feature. As a part of using the said option or feature, you will be needed to create invoices when adding the cash receipts.
The blog features the use of the option/feature in various QB software versions to add your cash receipts. Also, when you do not wish to create invoices for adding them, you can see our other methods.
Add a Cash Receipts Report in QuickBooks
While planning to enter cash receipts in QuickBooks, you may utilize the Chart of Accounts option. The method comprising the use of COA will lead you to create a Petty Cash account. Alternatively, you may go with the Custom Reports option according to your convenience. The Custom Reports option will help you with the Transaction Details. Through these details, you will be able to add the receipts report in the software.
Method 1: Using the Chart of Accounts
In QuickBooks, COA has several options for recording things, including the cash receipts report. You can pick the Chart of Accounts by visiting Lists. After tapping on the drop-down menu of Account, selecting New is required. Now, you may head to the Bank option and choose Continue. You will be required to fill in a name within the Account box.
Continue reading these steps for adding the QuickBooks cash receipts report:
- Move to your QB account and click on “Lists”.
- Select the “Chart of Accounts” option.
- Then tap on the drop-down menu named “Account”.
- Press the option with “New” written on it.
- Going to “Bank” is the next step.
- Pick “Continue” after this.
- Fill in a name in the “Account” field.
Tip: You may give a name like “Cash Drawer” or “Petty Cash” in this step.
- Opt for the account balance as “Zero” or “0”.
- In the “As of” area, you need to choose the present date.
- Hit the option of “Save and Close”.
- After clicking on the “Lists” bar, take the “Chart of Accounts” icon.
- Select the account which you had created earlier and named “Petty Cash”.
- You get an option to fill in a “Payee” or not which will make it easy while tracking the required information.
- Also, you will be needed to provide the amount of the receipt in the column named “Payment”.
- Scroll down to the line that is next.
- Pick up the drop-down of “Account”.
- Opt for the “Expense Account” through which you will make the purchase.
- In case you want to break the amount between two accounts or more, go for the “Split” option.
- Press “Record” to finish creating or entering the QuickBooks cash receipts report.
Method 2: Using the Custom Reports
To enter a cash receipts report in QuickBooks, a user may take advantage of the Custom Reports option. For finding this option, start by looking for Reports in the QB menu. Tap on Custom Reports once found. Then you have to click on Transaction Detail. After filling in the suitable time period, mark a tick against the various items present on the Columns area. Also, pick Customer among the drop-down of Total By.
Follow the remaining method to enter or post the report for cash receipts in QuickBooks:
- Find the option “Reports” from the menu in QB.
- Click on “Custom Reports”.
- Selecting the option that says “Transactions Detail” is needed.
- Type in the required date span.
- Put a Tick against the following items present in the “Columns” section:
- In the drop-down menu of “Total By”, tap on “Customer”.
- You may even go for the other options such as “Sum by Month” or “Sum by Account”.
- After clicking on the “Filters” bar, you are needed to choose the “Transaction Type”.
- Among the drop-down options, pick “Multiple Transactions”.
- Mark the below-shown “Transaction Types”:
- “Sales Receipt”
- Press the tab for “Ok”.
- After opting for the filter named “Detail Summary”, you will have to hit “Summary Only”.
- Select “Ok”.
How to enter cash receipts in QuickBooks in the form of a report will have been understood by now. As you may see, you are required to provide multiple pieces of information in this method. You are suggested to enter only the correct information for avoiding any discrepancies in the report.
How to Post Cash Receipts in QuickBooks Desktop?
In QuickBooks Desktop, cash receipts can be posted with the usage of the Customers option. You will have to search for the Customers bar from the menu in QBDT. Then click on Create Invoices. Next, you may either opt for an existing customer or add up a new one. Fill up the fields with the proper information to proceed.
How to add cash receipts to QuickBooks has been further elaborated here:
- Open “QBDT” and look for the “Customers” option in the menu.
- Tap on “Create Invoices”.
- Either choose an existing “Customer” or enter a new “Customer”.
- Fill in the fields with the details required.
Tip: In this step, terms and conditions can also be added to the transaction if you wish to.
- Select the tab for “Cash Account”.
- Hit “Save”.
To mark the “Invoice” as paid, keep going through the steps shown as follows:
- Head to the “Customers” bar on the menu in “QBDT”.
- Click on “Invoices” afterward.
- Then you need to choose the “Invoice” in correspondence with the QuickBooks “Cash Receipt” option.
- Press “Mark as Paid”.
Important: It is a compulsion to confirm whether the transactions are checked as paid. If not, then the users might face a problem related to the creation of “Reports” and “Statement Reconciliation” in the QuickBooks Desktop software.
How to enter Cash Receipts into QuickBooks Online without Invoices?
You have to go by the Customer option to create a Cash Receipt in QBO. First, tap on the +New button in QBO. Choose Sales Receipt from the Customers drop-down. Also, opt for a customer through the drop-down options. Further, press Product/Service. Keep reading to know how to enter Cash Receipts into QuickBooks Online.
- Go to the “QuickBooks Online” window.
- Click on the feature saying “+New”.
- Below the “Customer” drop-down menu, opt for “Sales Receipt”.
- After this, you need to choose a customer among the options. You will find the same in the drop-down menu.
- Tap on “Product/Service”.
- Fill in the “Cash Receipt Amount”.
- Push the tab for “Save and Close”.
You can seamlessly record cash receipts in QuickBooks as well as in its other versions. The blog explained to you the process to record QuickBooks cash receipts by following numerous ways. We also outlined the best tips that you can employ while performing these ways.
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