People © 2013 The Sleeter Group All rights reserved. Intuit, the Intuit logo and QuickBooks, among others, are registered trademarks of Intuit Inc. Other.

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Presentation transcript:

people © 2013 The Sleeter Group All rights reserved. Intuit, the Intuit logo and QuickBooks, among others, are registered trademarks of Intuit Inc. Other parties’ marks are the property of their respective owners. The Sales Process 2014

© 2013 The Sleeter Group All rights reserved. Intuit, the Intuit logo and QuickBooks, among others, are registered trademarks of Intuit Inc. Other parties’ marks are the property of their respective owners. Topics Tracking Company Sales Setting Up Customers Job Costing Recording Sales Receiving Payments from Customers Making Bank Deposits Income Tracker

© 2013 The Sleeter Group All rights reserved. Intuit, the Intuit logo and QuickBooks, among others, are registered trademarks of Intuit Inc. Other parties’ marks are the property of their respective owners. Tracking Company Sales Sales Receipt: – Cash customers Invoice: – Credit Customers Both track detailed information

© 2013 The Sleeter Group All rights reserved. Intuit, the Intuit logo and QuickBooks, among others, are registered trademarks of Intuit Inc. Other parties’ marks are the property of their respective owners. Sale Receipt Workflow

© 2013 The Sleeter Group All rights reserved. Intuit, the Intuit logo and QuickBooks, among others, are registered trademarks of Intuit Inc. Other parties’ marks are the property of their respective owners. Invoicing Workflow

© 2013 The Sleeter Group All rights reserved. Intuit, the Intuit logo and QuickBooks, among others, are registered trademarks of Intuit Inc. Other parties’ marks are the property of their respective owners. Business Transaction Cash Customers (Pay by cash, check or credit card at time of sale) Credit Customers (Pay on a date after the sale date) QuickBooks Transaction Accounting Entry QuickBooks Transaction Accounting Entry Customer Estimate (Optional) Not Usually Used Non-posting entry used to record estimates (bids) for customers or jobs. Customer Sales Order (Optional)* Not Usually Used Non-posting entry used to record customer orders. Recording a Sale Increase (debit) Undeposited Funds, increase (credit) income account. Increase (debit) Accounts Receivable, increase (credit) income account. Receiving Money in Payment of an Invoice No additional action is required on the sales form Decrease (credit) Accounts Receivable, increase (debit) Undeposited Funds. Depositing Money in the Bank Increase (debit) bank Account, decrease (credit) Undeposited Funds. Decrease (credit) Undeposited Funds, increase (debit) bank Account. Steps in the Sales Process

© 2013 The Sleeter Group All rights reserved. Intuit, the Intuit logo and QuickBooks, among others, are registered trademarks of Intuit Inc. Other parties’ marks are the property of their respective owners. Setting Up Customers Customer Center – Open from the Icon bar. Setup Info

© 2013 The Sleeter Group All rights reserved. Intuit, the Intuit logo and QuickBooks, among others, are registered trademarks of Intuit Inc. Other parties’ marks are the property of their respective owners. Job Costing Multiple jobs for each customer QuickBooks tracks jobs in addition to customers – Helps track income and expenses – Help with reporting Customer:Job – separated by colon – E.g.: Cruz, Maria:Branch Opening

© 2013 The Sleeter Group All rights reserved. Intuit, the Intuit logo and QuickBooks, among others, are registered trademarks of Intuit Inc. Other parties’ marks are the property of their respective owners. Recording Sales Receipts Use when customers pay at the time of the sale

© 2013 The Sleeter Group All rights reserved. Intuit, the Intuit logo and QuickBooks, among others, are registered trademarks of Intuit Inc. Other parties’ marks are the property of their respective owners. Undeposited Funds Temporary holding account Tracks checks and credit card receipts before they are deposited Two choices: 1. Group with other Undeposited Funds (default) 2. Deposit to bank accounts Group with other Undeposited Funds is best – Makes reconciliation of bank accounts easier

© 2013 The Sleeter Group All rights reserved. Intuit, the Intuit logo and QuickBooks, among others, are registered trademarks of Intuit Inc. Other parties’ marks are the property of their respective owners. Creating Invoices Use Invoices to record sales to your credit customers

© 2013 The Sleeter Group All rights reserved. Intuit, the Intuit logo and QuickBooks, among others, are registered trademarks of Intuit Inc. Other parties’ marks are the property of their respective owners. Receiving Payments from Customers Receiving Payments by Check Handling Partial Payments Receiving Payments by Credit Card Where Do the Payments Go? Preferences for Applying Payments and Automatically Calculate Payments Recording Customer Discounts

© 2013 The Sleeter Group All rights reserved. Intuit, the Intuit logo and QuickBooks, among others, are registered trademarks of Intuit Inc. Other parties’ marks are the property of their respective owners. Receiving Payments by Check Select the Customers menu, and then select Receive Payments

© 2013 The Sleeter Group All rights reserved. Intuit, the Intuit logo and QuickBooks, among others, are registered trademarks of Intuit Inc. Other parties’ marks are the property of their respective owners. Handling Partial Payments Two options – Leave the invoice open – Write off the unpaid amount

© 2013 The Sleeter Group All rights reserved. Intuit, the Intuit logo and QuickBooks, among others, are registered trademarks of Intuit Inc. Other parties’ marks are the property of their respective owners. Receiving Payments by Credit Card Select the Customers menu, and then select Receive Payments Enter data into the Received From, Amount, and Date fields For Pmt. Method, enter the Credit Card payment method, credit card number and Exp date

© 2013 The Sleeter Group All rights reserved. Intuit, the Intuit logo and QuickBooks, among others, are registered trademarks of Intuit Inc. Other parties’ marks are the property of their respective owners. Where Do the Payments Go? Undeposited Funds – Unless you turned off “Use Undeposited Funds as a default deposit to account” preference QuickBooks does not increase your bank balance when you receive payments To have payments show up in your bank account, you must Make Deposits.

© 2013 The Sleeter Group All rights reserved. Intuit, the Intuit logo and QuickBooks, among others, are registered trademarks of Intuit Inc. Other parties’ marks are the property of their respective owners. Recording Customer Discounts Click Discount and Credits on the bottom side of the Receive Payments window QuickBooks automatically calculates a suggested discount based on the terms.

© 2013 The Sleeter Group All rights reserved. Intuit, the Intuit logo and QuickBooks, among others, are registered trademarks of Intuit Inc. Other parties’ marks are the property of their respective owners. Making Bank Deposits Depositing Checks and Cash Holding Cash Back from Deposits Printing Deposit Slips Depositing Credit Card Payments

© 2013 The Sleeter Group All rights reserved. Intuit, the Intuit logo and QuickBooks, among others, are registered trademarks of Intuit Inc. Other parties’ marks are the property of their respective owners. Depositing Checks and Cash To ensure that your bank reconciliations go smoothly, you should always deposit your checks and cash separately from your credit card payments

© 2013 The Sleeter Group All rights reserved. Intuit, the Intuit logo and QuickBooks, among others, are registered trademarks of Intuit Inc. Other parties’ marks are the property of their respective owners. Holding Cash Back from Deposits Fill in the bottom part of the deposit slip indicating the account to which you want to post the cash

© 2013 The Sleeter Group All rights reserved. Intuit, the Intuit logo and QuickBooks, among others, are registered trademarks of Intuit Inc. Other parties’ marks are the property of their respective owners. Depositing Credit Card Payments Credit card processing companies can charge discount fees on each credit card deposit. Use QuickMath to calculate fee on deposit.

© 2013 The Sleeter Group All rights reserved. Intuit, the Intuit logo and QuickBooks, among others, are registered trademarks of Intuit Inc. Other parties’ marks are the property of their respective owners. Income Tracker New in 2014 One easy to use location for tracking customer transactions Manage unbilled and unpaid sales transactions

© 2013 The Sleeter Group All rights reserved. Intuit, the Intuit logo and QuickBooks, among others, are registered trademarks of Intuit Inc. Other parties’ marks are the property of their respective owners. Summary of Key Points Tracking Company Sales Setting Up Customers Job Costing Recording Sales Receiving Payments from Customers Making Bank Deposits Income Tracker

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