Recording sales from a Point of Sale with Simplified Invoices
Create simplified invoices to record your sales from a Point-of-Sale (POS) system
If you sell through a POS system, your customers are paying you immediately. In this case, you’ll want to record sales as simplified invoices and mark them as paid through your cash register.
First, let’s create the cash register account. Go to your Chart of Accounts in the left side menu, then create a new account named “Cash Register”. Select the Cash and Cash Equivalents account type from the Type drop-down menu and set the Enable payments column to Yes to be able to record payments paid through this new account.
Once you sell an item at the point of sale, create a Simplified invoice by going to Simplified invoices in the left side menu.
Create a DRAFT for your invoice and complete the required fields. Make sure to select the Cash Register account from the Paid through drop-down menu to record the sale in the POS account.
Once you’ve completed all required fields, change the status of your simplified invoice to PAID to record the revenue and the payment at once. A journal icon in the right column will appear, indicating that this transaction has been posted to your books.
You’ll be able to generate your reports at the end of your defined period to track the revenue coming in from your POS account.
- Creating and sending an invoice
- Creating a recurring or scheduled invoice
- Recording a customer invoice payment
- Recording bank fees and invoice payments
- Recording a customer advance or downpayment
- Sending a payment receipt to your customer
- Writing off an invoice
- Choosing an account for an invoice or bill line item
- Offering discounts in fixed amounts