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A. Record a Sale Practice Session – Money In ,[object Object],Customer buys business cards. Pays on spot with cash. You issue sales receipt. 1
A. Record a Sale Practice Session – Money In ,[object Object],Issue sales receipt Record: 1. Customer 2. Item 3. Quantity 4. Payment type 5. Date 1 2 3 4 5
A. Record a Sale Practice Session – Money In ,[object Object],Profit & Loss 6. Sales increase by $200.00 Balance Sheet 7. Assets increase by $215.50 8. Liabilities (sales tax payable) increase by $15.50 9. Equity increases by $200.00 6 7 8 9
C. Receive a Payment Practice Session – Money In ,[object Object],Customer pays by check for business card design services invoice. Record receipt of payment. 1
C. Receive a Payment Practice Session – Money In ,[object Object],Receive payment Record: 1. Customer 2. Payment type 3. Enter amount 1 2 3
C. Receive a Payment Practice Session – Money In ,[object Object],Profit & Loss 4. Unchanged. Balance Sheet 5. Accounts receivable decrease by $90.  6. Undeposited funds increase by $90. 7. Equity unchanged. 4 5 6 Undeposited funds appear in “Other Current Assets”  7

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Financial Reports

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Notes de l'éditeur

  1. Participation Question: Before we begin the practice sessions, do you have any questions? If you’re unsure about any of the points we’ve discussed so far, let me know. We can talk it through, so you will feel more confident. [Begin Session] A sale is “money in.” When a customer pays in cash, what do you do? (Issue a sales receipt.) Participation Question: And what are the most important pieces of information you need to track about a sale? (Think about the sales receipts you get when you buy something in the store). “ Hands-on” Option: Go to “File/Maintenance/Restore” and load the file “Training_file.qbb” (included with the training resources available for download) Click on “Sales Receipts” and Create a “New” receipt.