Sales & Accounts Receivable
Sales transactions are those that show an exchange of goods and services for payment or a promise to pay. Every successful business should record some kind of sales transaction—the more, the better!
Because QuickBooks integrates all aspects of accounting, every time you enter a sales transaction, you affect balances in other QuickBooks accounts. For example, when you enter a customer name for an invoice, the amount of the invoice increases the customer's account balance. Customer accounts receivable can also be affected by payments received, finance charges, and credits for returns.
This chapter explains how to use QuickBooks to enter sales and estimates. It also explains how to monitor and adjust your customers' accounts receivable balances to ensure that you receive proper payment on a timely basis.