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In QuickBooks Pro 2010 Essential Training, author Bonnie Biafore shows how to most efficiently use this popular business accounting software to manage business finances. The course covers core QuickBooks features that business owners need to know, from recording typical bookkeeping transactions like bills and invoices, to reconciling accounts and managing company files. Exercise files accompany the course.
After you fill in the header of an invoice, it's time to do the serious lifting. Filling in all the items that make up the invoice. As you learned in the chapter Setting Up to Sell Services and Products, items can represent the things you sell to customers. But they can also be subtotals, discounts, and other charges. The good news is that QuickBooks pulls information from item records to fill in some of the fields. So adding items to the invoice table and footer is easy. To work on an invoice, on the homepage click Customers.
In the Customer list select the customer whose invoice you want to edit. Bill Bond in this case. Then to edit the invoice double-click the invoice, here the number 7. The Create Invoices window opens just like it does when you create an invoice from scratch. If you think about it, the invoices that you sent to your customers are the same as the invoices or bills that your vendors send to you. So it make sense that the fields you fill in within an invoice table are similar to the fields you fill in when you enter a vendor's bill.
The main difference is that the Create Invoices window doesn't have an Expenses tab and Items tab. You add the products and services and any other type of item to the same table in the Create Invoices window. The order of the columns in the table depends on the invoice template you use. In the Intuit Product Invoice, the first column is Quantity. If you use the Intuit Services Invoice the first column is the item. Fill in the Quantity cell with the quantity for the item you're adding. In this case, 4.
If you don't add a quantity, QuickBooks acts as if you add just one of the item. In the Item Code cell choose the item you want to add. For example an interior door. QuickBooks fills in the description and the cost for one of the item in the Description and Price Each cells. On the Services Invoice, the Price column is labeled Rate. QuickBooks also calculates the total for the quantity you added, and puts that amount in the Amount cell.
In this case, the doors are $100 each, so the total for 4 is $400. QuickBooks also fills in the Tax cell with the tax code you assigned to the item. Tax tells the program that the item is taxable. Non tells QuickBooks to skip the item when it calculates the sales tax code owed. To add another item to the invoice click the first cell in the next row. Fill in the quantity and the item. For example, 2 and then exterior doors and you can see the QuickBooks fills in the Description and the Price Each and calculates the total amount based on the quantity.
In the next line choose Miscellaneous under the Construction parent item. This item comes with a generic description, Miscellaneous services, with no price defined. You can edit any item description on an invoice so the customer knows what it is. For example, you can change this generic description to Install doors. You can also change the price of an item on the invoice, whether the item record contains a sales price or not.
You don't have to fill in the Quantity cell. Initially QuickBooks copies the value from the Price Each or Rate cell into the Amount cell. But you can also simply type a value into the Amount cell, which makes sense for a service you provide for a fixed price. Below the invoice table are a few additional fields. As you add items to the invoice, QuickBooks totals the amounts and shows the total below the table where it says Balance Due. You can add a message to your customer by choosing one from the dropdown list, or you can create a new message.
These messages get added to the Customer Message list, so they aren't the place for messages that change with each invoice. QuickBooks automatically fills in the Tax box with a sales tax item from the customer's record, and the Customer Tax Code box too. If you want to add the invoice to a queue of invoices to be printed for mailing or sent via e-mail, turn on the To be printed or To be e-mailed checkboxes. You'll learn about the Add Time/Costs button and Apply Credits buttons in videos later in this chapter.
Finally, you can type a memo to yourself in the Memo box. This text doesn't appear on the invoice that you send to the customer. When you're done, click Save & Close to save the invoice and close the dialog box. Click Yes to confirm that you want to change this edited transaction. You can add lots of items to an invoice. In fact, if you add more lines than fit in the window you can scroll to see all the lines, then when you print the invoice QuickBooks uses as many pages as necessary to print it out.
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