[Question] QB Pro 2009 Question

[kimhughes]

I am working on my QB Pro and I have several questions regarding my bank account and my paypal account.

I receive payment for services and products through my paypal account and when a client pays through paypal it is recorded, but I do not understand how to receive a pymt for my products. Do I need to create an invoice for each buyer?

If anyone is reading this message and can talk now I would be happy to pay you for your time to answer this question in additional to some other questions.

Please email me at kim@Kmhughes.com

Thanks

[Shellea]

You have to make an invoice then you go to your accounts receivable and you receive the payment and it keeps the record of the service and the payment! Good luck~

[leedrozak]

Either an invoice or a sales receipt would work.

[SaraASB]

An invoice is when they will pay you later.
A Sales receipt is a combination Invoice/Payment in one.
Have it post to the "undeposited funds" account and then create a Deposit to your Paypal account. Your Paypal account is a type "bank" account in QuickBooks. When you make the Deposit, you have the option of deducting the fee there, just like it shows on your Paypal register or you can do a monthly journal entry to get the account in balance.
Use a Sales receipt if you want/need to track your sales through item codes.
If you are not tracking your sales through item codes or are a simple cash basis type company, skip the Invoice/Sales Receipt routine and go straight to a Deposit slip and deposit your sale to the Paypal account and post directly to your income accounts. Then use the Banking>Transfer screen to transfer the funds to your checking account when you request a download of funds.

[BrightBooks]

For purchases that you have already received the payment you would want to create a sales receipt. By creating the sales receipt it bypasses the AR account entirely.