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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.
When you first create an invoice for a customer, the Create Invoices window looks like you have a lot fill in. But QuickBooks can actually pull information from your customer's record like the customers address, the payment terms you've given them and the sales tax they have to pay. It also gets info from item records to fill in the invoice table too. To get started, we're going to learn how to create an invoice, filling in the fields at the top of the form and then saving it. To create an invoice, on the homepage, click Create Invoices.
If you use QuickBooks Premier, and turn on Time Tracking, the Create Invoices icon actually displays two commands, Create Invoices and Invoice for Time and Expenses. Here we just click Create Invoices. In the Customer Job dropdown list, choose the customer or job that you're invoicing, Bill Bond in this example. QuickBooks fills in the Bill To box with the customer's name and address from the customer record. QuickBooks fills in the date with today's date or the last date you used for a new invoice.
If you want to change the date, click the Calendar icon and choose the date that you want. QuickBooks calculates when the invoice is due based on the customer's terms. The program also increments the previous invoice number by one to get the new invoice number. QuickBooks has several built-in invoice templates. Each one includes different fields and some times places fields in different positions in the Form. You can choose a different template at any time without losing any of the information you've already added.
If you choose an invoice template for products, like the Intuit Product Invoice, the invoice header displays several additional fields for shipping. For example, you can choose an address other than the Bill To address for shipping the products. You can also choose how you are going to ship products in the Via dropdown list. F.O.B stands for Free On Board and it's the physical location where the customer becomes responsible for the shipment, in case of damage or loss.
If you assign the sales rep in the customer record, the rep shows up in the Rep box. You can also choose a rep for this invoice from the dropdown list. Although this video covers just the header information, you can't actually save a blank invoice. So for now I'm going to type Quantity, and pick an item to add to the invoice. Then to save the invoice and close the dialog box, click Save & Close to save it. When you save the invoice it appears as an Open Invoice for the customer.
It also increases the balance for your accounts receivable account, which is money that customers owe you. Now you can see how invoices fit into the money trail in your company books.
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