Creating an invoice is the most important document needed to produce for your business. It is essential for you to manage your cash flow in the right manner if you are running your business. You can save your money and simplify the process of invoicing by using QB. Invoices assist you to manage your accounts receivable. QuickBooks accounting software has a feature to create an invoice and the document is given to the buyer by the seller to collect the payment. You must know how to create an invoice in QuickBooks Desktop, mainly if you are creating it for the first time.
Before creating a QuickBooks invoice for goods and services make sure that you have all the necessary details required to create it.
Need to Create Invoices in QuickBooks Desktop
Creating an invoice in QuickBooks will benefit you in two ways:
- You can easily send email invoices to your customers directly from QuickBooks.
- The financial statements get updated in real-time.
Different businesses need to send invoices to the customers for the payments. Besides, you must get aware of the benefits of the same.
Benefits of Creating Invoice in QuickBooks
Here are some of the benefits of creating invoices:
- Maintaining records of sale
It will assist you to keep a legal record of the sale.
- Payment tracking
Seller and the buyer both can keep track of their payments and sum owed.
- Legal safety
The document acts as a legal proof between the buyer and seller.
- Simple tax filing
Recording and maintaining all sale invoices guarantees that the right amount is paid.
- Business data
It gathers vital data like customers’ buying patterns, detail of the products, buying times, and so on.
After knowing the benefits of creating an invoice in QuickBooks Desktop, you need to learn the modern approach of creating it. The method is going to make yourself free from tedious calculations.
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How to Create an Invoice in QuickBooks Desktop?
Follow the steps to create invoice in QuickBooks Desktop from the scratch:
- In the beginning, choose create invoices option.
- Now, from the customer: job-drop down, you need to choose a customer or customer job. In case you didn’t find a customer or job in the list, choose Add New.
- You need to fill the information in the form like the bill to/sold to, date invoice #, and terms.
- Choose the items.
- In case you want to apply for a discount, create a discount item. (optional)
- Go to the lists menu from the home screen.
- Then, choose the item list.
- Now, right-click anywhere on the system screen and then choose New.
- You have to select the type drop-down and choose the discount option displayed on the screen.
- After this, add an item name/number and also give a brief description.
- Add the discount percentage or amount. In case discount amounts differ, you may leave the amount or % field unfilled and add the amount directly on the sales forms.
- Select the income account to track discounts.
- Choose the right tax code for the item.
- You have to select ok.
- Finally, select save & close.
Create an Invoice for a Sales Order
In case you have created a sales order, you have to create an invoice. There are two different ways to create invoices:
From the Sales Orders Window
- To begin with, create invoice button, on the sales orders main tab.
- Now, on the message that is visible on the screen, select:
- Select, create invoice option given to add the items from the sales order.
- After this, select create an invoice for the items you have selected.
- Do the necessary modifications in the invoice.
- Finally, choose Save & Close.
From the Invoice Window
- Firstly, from the Customer menu or QuickBooks Home screen choose create invoices.
- Then, on the customer: job drop-down, choose a customer or customer job. You will see the sales order window on the PC screen.
- Select one or more sales orders that contain items you wish to include in your invoice.
- In the invoice, make the necessary changes.
- Lastly, choose Save & Close.
Create an Invoice for an Estimate
If your customer has accepted your estimate and ready to pay the amount, then you can turn the complete estimate into an invoice:
From the Estimate window
- Initially, open the right estimate on your PC screen.
- After this, choose create invoice.
- In case, progress invoicing is turned on, you will see a message asking the items and quantities to put on the invoice.
- On receiving the invoice, you need to edit the information as required.
- Choose save & close option.
From the Invoice Window
- You have to select create invoices option from the QB home screen or the customer menu.
- Then, on the customer: job drop-down, choose a customer job or customer. With this, the estimates window will be visible.
- You have to select the estimate you want to have on the invoice. QuickBooks permits you to choose one estimate to invoice.
- Edit the information as per the need in the invoice
- Accept save & close.
Creating an invoice has become a fairly simple process with these steps. Furthermore, you don’t have to wait for paper invoices because sending online is a much better option.
The blog focuses to give you an understanding of what an invoice is, the need for creating it, benefits of the invoice, and how to create an invoice in QuickBooks Desktop. No doubt, the accounting software helps you in speeding up with the invoicing process. With these steps, it has become easy for you to improve cash flow and track your payments on-time.
If you want to know more about how to create invoice in QuickBooks Desktop, then feel free to get connected with QuickBooks expert. To get connected dial QuickBooks Desktop Support Number and get instant assistance.