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Enter sales summaries

To enter your sales summaries from your summarized sales information, or from your point of sale report (z-total report), follow these steps.

What information do I need to enter a sales summary?

You'll enter summaries of your sales (preferably daily) using QuickBooks sales receipts. This is the information you need to have on hand to enter a sales summary:

  • Cash register totals for each summary item you plan to enter, items for tracking products individually or items for tracking total taxable and non-taxable only).

  • If you want to track your sales by employee or sales rep, you'll need register totals for each sales person.

  • Total amounts received by each payment method (Checks and Cash, VISA/Mastercard, American Express, etc.).

When you've entered the sales summary on a sales receipt along with a summary of payments, the sales receipt total should be zero unless you have an overage or shortage.

To enter a sales summary

  1. Go to the Retail menu and click Enter Daily Sales.

  2. Enter Register Summary in the Customer:Job field.

    QuickBooks may ask you if you want to Quick Add "Register Summary" to your list. Click OK.

    You have several options for separating your sales using the customer, class, and Rep fields.

    • If you have more than one store, you can:

      • Enter the store name in the Customer:Job field and then create a separate summary sales receipt for each store

        or

      • You can use QuickBooks classes to track each store; enter "Register Summary " in the Customer:Job field and then enter the appropriate store name in the Class field. Create one summary sales receipt for each class (store).

    • If you track sales for each register separately, you can use Register 1, Register 2, and so on in the Customer:Job field and then create a separate summary sales receipt for each register.

    • If you want to track sales for each of your employees separately, use the Rep field to enter the employee initials for each summary sales receipt. However, remember that you'll need to separately total each employee's sales at the cash register. Make sure you have each employee zero-out the register at the end of his or her shift so you'll have separate z-totals for each employee.

  3. In the Tax field at the bottom of the sales receipt, enter None.

    QuickBooks may ask if you want to set up this sales tax item. Click Set Up. In the New Item window, click OK without entering any additional information. The reason for creating this additional sales tax item is that you can't use a sales tax item on a line of the sales receipt and then use the same sales tax item in the Tax field. In step 6 below, you'll enter the sales tax item (and rate) for your location directly on a line of the sales receipt. If you have your preset sales tax item (and rate) displayed in the Tax field, you wouldn't be able include the sales tax line item on the sales receipt.

    When summarizing your sales tax on a line of the summary sales receipt, click the Tax drop-down list and choose None.

  4. On separate lines of the sales form, enter the dollar amount (and quantity if available) for each sales item listed on your register tape.

  5. Enter a subtotal line using a subtotal item.

  6. On the next line of the sales receipt, enter the appropriate Sales Tax item (or items) and the total sales tax amount(s) shown on the register tape.

    QuickBooks will display a warning message about changing the amount of a tax line because QuickBooks normally calculates the sales tax on each sales receipt. However, to ensure your sales summary balances to the penny, you'll enter the sales tax figure from your register tape. Therefore you don't want QuickBooks to calculate it again, so you can ignore this message, and click OK.

  7. Enter the payment items for each payment method, and the total for each method. What if the total amount for a payment method is negative?

    For example, if you created payment items for "Cash," "Checks," "VISA/Mastercard," and "Amex," enter each payment on a separate line with the total received for that payment method. QuickBooks shows the payment amounts as negative numbers.

  8. On the last line of the sales receipt enter the Overage or Shortage item and amount according to the following rules:

    • If the sales receipt total is a negative number after all of your daily sales information is entered, you have an overage. To record an overage, enter overage in the Item column and enter the amount necessary to zero out the sales receipt. Since the total is a negative value, the overage number will be the same value expressed as a positive number.

    • If the sales receipt total is a positive number after all of your daily sales information is entered, you have a shortage. The amount of your payment items is less than the amount of your sales items. To record a shortage, enter shortage in the Item column and enter the amount necessary to zero out the sales receipt. Since the total is a positive value, the shortage number will be the same value expressed as a negative number.

      The goal is to zero out the sales receipt.

  9. Save the transaction.

    • Click Save & Close to save the transaction and close the window.

    • Click Save & New to save the transaction and enter a new one.

See also

KB ID# H_RET_ENTER_SALES_SUMMARIES
9/16/2014 12:24:22 AM
PPRDQSSWS404 9102 Pro 2013 aacd32