| Author |
Message |
Guest
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 Posted:
Wed Oct 26, 2005 7:20 am Post subject:
Sales vs. Deposits |
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Newbie question...
I want to track both sales and deposits in Quickbooks. How do I
reconcile differences between these?
For example, I may have $262 in sales but only deposit $250 on a given
day.
How can I keep an accurate checkbook balance and return accurate sales
reports?
Thanks much!
Richard
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!-!
Guest
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| Posted:
Wed Oct 26, 2005 4:02 pm Post subject:
Re: Sales vs. Deposits |
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Hi Allan.
Maybe "cash/accrual" is what he really wants. Another response
addressed that issue. I just answered what he asked.
"Allan Martin" <Allan@GreatGuy.com> wrote in message
news:HzM7f.9152$rE2.8139@fe10.lga...
| Quote: | !-!
Where are you going with this one? The OP was sort of vague but I
believe
the question related to accrual verse cash basis reports.
"!-!" <Spam@LocalHost.com> wrote in message
news:2eL7f.8957$Nj3.767909@news20.bellglobal.com...
I know no reason, other than user error, why a Profit and Loss or
Sales report would not show "accurate" sales figures.
There are a number of ways to generate a report of deposits.
Here's
one:
- Create a Balance Sheet (standard).
- Double-click your bank balance to produce a Transactions By
Account
report.
- Modify this report for "Today".
- This will show all your bank activity, deposits in the debit
column.
To show ONLY the debits, click to remove the Credit and Balance
columns.
- Remove any other unneeded columns.
- Adjust column widths if desired.
- Memorize for future use.
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!-!
Guest
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| Posted:
Wed Oct 26, 2005 4:02 pm Post subject:
Re: Sales vs. Deposits |
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I know no reason, other than user error, why a Profit and Loss or
Sales report would not show "accurate" sales figures.
There are a number of ways to generate a report of deposits. Here's
one:
- Create a Balance Sheet (standard).
- Double-click your bank balance to produce a Transactions By Account
report.
- Modify this report for "Today".
- This will show all your bank activity, deposits in the debit column.
To show ONLY the debits, click to remove the Credit and Balance
columns.
- Remove any other unneeded columns.
- Adjust column widths if desired.
- Memorize for future use.
<RichardMcCarty@gmail.com> wrote in message
news:1130293219.738242.176010@g49g2000cwa.googlegroups.com...
| Quote: | Newbie question...
I want to track both sales and deposits in Quickbooks. How do I
reconcile differences between these?
For example, I may have $262 in sales but only deposit $250 on a
given
day.
How can I keep an accurate checkbook balance and return accurate
sales
reports?
Thanks much!
Richard
|
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| Back to top |
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HeyBub
Guest
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| Posted:
Wed Oct 26, 2005 4:02 pm Post subject:
Re: Sales vs. Deposits |
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RichardMcCarty@gmail.com wrote:
| Quote: | Newbie question...
I want to track both sales and deposits in Quickbooks. How do I
reconcile differences between these?
For example, I may have $262 in sales but only deposit $250 on a given
day.
How can I keep an accurate checkbook balance and return accurate sales
reports?
Thanks much!
|
There is no reason why sales should equal deposits. On an accrual basis, you
may not get cash for today's sale for months (if ever). You may invoke the
"less cash" section of a deposit. A sale may be wiped out by a credit memo.
You may deposit funds not resulting from a sale (such as equity or sale of
an asset).
In other words, a "sale" may not involve cash and a deposit may not involve
sales. |
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Allan Martin
Guest
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| Posted:
Wed Oct 26, 2005 4:02 pm Post subject:
Re: Sales vs. Deposits |
|
|
!-!
Where are you going with this one? The OP was sort of vague but I believe
the question related to accrual verse cash basis reports.
"!-!" <Spam@LocalHost.com> wrote in message
news:2eL7f.8957$Nj3.767909@news20.bellglobal.com...
| Quote: | I know no reason, other than user error, why a Profit and Loss or
Sales report would not show "accurate" sales figures.
There are a number of ways to generate a report of deposits. Here's
one:
- Create a Balance Sheet (standard).
- Double-click your bank balance to produce a Transactions By Account
report.
- Modify this report for "Today".
- This will show all your bank activity, deposits in the debit column.
To show ONLY the debits, click to remove the Credit and Balance
columns.
- Remove any other unneeded columns.
- Adjust column widths if desired.
- Memorize for future use. |
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Guest
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| Posted:
Wed Oct 26, 2005 11:32 pm Post subject:
Re: Sales vs. Deposits |
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So I *am* lost! <grin>
In other words, I can records sales and deposits as separate
not-necessarily-related entities in QuickBooks, and QB will report
everything correctly for me.
Right?
Thanks again,
Richard |
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HeyBub
Guest
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| Posted:
Thu Oct 27, 2005 12:03 am Post subject:
Re: Sales vs. Deposits |
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RichardMcCarty@gmail.com wrote:
| Quote: | So I *am* lost! <grin
In other words, I can records sales and deposits as separate
not-necessarily-related entities in QuickBooks, and QB will report
everything correctly for me.
Right?
|
Right. There is no necessary relationship between sales and deposits. Trying
to make them match is doomed. |
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John
Guest
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| Posted:
Thu Oct 27, 2005 5:48 am Post subject:
Re: Sales vs. Deposits |
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Why no mention of "undeposited funds" ??
Most sale go to undeposited funds first.
On 25 Oct 2005 19:20:19 -0700, RichardMcCarty@gmail.com wrote:
| Quote: | Newbie question...
I want to track both sales and deposits in Quickbooks. How do I
reconcile differences between these?
For example, I may have $262 in sales but only deposit $250 on a given
day.
How can I keep an accurate checkbook balance and return accurate sales
reports?
Thanks much!
Richard
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