How to record daily till sales cash and card machine income in QuickBooks Online?
I am a newbie to accounting and own a restaurant and would like to use QuickBooks Online for my books. I would like to know how to setup the books to record my point of sale income, split into cash and card machine income, for reporting purposes. Cash stays in the till to pay daily suppliers and card machine income stays in a bank account to pay monthly costs. I specifically need information on the configuration as most articles refer to QuickBooks Desktop. I would like to use a single sales receipt to record this income. No tax involved.
Thank you for posting your question on our website. It seems that it is the first time you are using QuickBooks online. I can understand how difficult it can be to maintain the accounts and your daily sales. Don not worry about your accounting from here on as by the end of this article you will be able to set up your daily till cash and card machine income. By the end of the article if you are still not able to find how to do this or if you have any other concern you can always call our QuickBooks Certified Professionals on 1-877-263-2742.
We need to understand what kind of business would want to record sales summary in QuickBooks.
- Restaurant, Bar, Bakery etc
- Retail Shops
- Gift Shops
- Spa Hair Salon
- Medical offices or doctors
- E-commerce with online sales etc.
There are several pre-defined names for recording a summary of sales in QuickBooks online like Daily Sales Summary, Zero sum sales receipt etc.
These are steps you need to follow in order to record daily sales summary in your QuickBooks online or you can always call one of our QuickBooks experts on 1-877-263-2742.
- Set up an item list for recording sales. In item list, we need to categorize taxable and non-taxable item.
- Set up a payment item for the methods of payment accepted. Such as
- Credit/debit cards
- Discount Coupons
- Gift Cards
Using the report with sales information enter the sales receipt in QuickBooks online and it should be net Zero. Memorize the sales receipt with Zero in each line and then you can enter daily sales in QuickBooks online