Cash Sales

Cash Sales

Overview

A Cash Sale is a type of sales transaction where payment is received immediately at the time of sale, either in cash, credit card, check, or other instant payment methods. Cash Sales in CustomBooks™ combine the functionality of Sales Invoices and Cash Receipts in one step. Cash sales are commonly used for retail, point-of-sale, or direct customer transactions where immediate payment is collected. This type of transaction forgoes Accounts Receivable and records directly to the bank or cash on hand account.

When to Use a Cash Sale

Use a Cash Sale in the following situations:
  1. The customer pays at the time of the transaction
  2. No invoice or delayed billing is needed
  3. The sale is for a walk-in customer or counter transaction
  4. A sales receipt is sufficient for documentation

Recording a Cash Sale

  1. Navigate to Sales → Cash Sales.
  2. Click Create → New Cash Sale.
  3. Choose a Customer from the drop-down list.
  4. Date and Sales # are auto-filled, change if necessary.
  5. Choose a payment Method.
  6. Choose the Undeposited radio button to indicate the sale is to be recorded to undeposited funds or choose Bank Acct. if the funds were deposited to a bank account. The default Account pre-fills.
  7. Enter a Sales Person. (Optional)
  8. Enter a Check / Ref #. (Optional)
  9. Click the Shipping tab and enter a Ship From address.
  10. The default Ship to and Bill to fields in the Addresses tab will auto-fill upon selecting a Customer, change if necessary.
  11. On the Project and Class tab, select a Project and a Class to link the document. (Optional)
  12. Click the Currency tab and change currency if needed.
  13. Click the Memo tab and enter a memo. (optional) External will print on on the Credit Memo and Internal is for internal use and will not print on customer documents.
  14. Click Add to add a line item to the Cash Sales and enter the item quantity.
  15. Click Save.



Creating a Cash Sale in CustomBooks™

To view the list of cash receipts that have been previously entered in CustomBooks™, navigate to Sales → Cash Sales.

Viewing Cash Sale (List View)

From the list view, you can :
  1. Sort the list by clicking on a column heading.
  2. View an individual Cash Sale by double clicking any column in the Cash Sale line.
  3. Export the list to excel or other format by clicking the Export List.
From the individual Cash Sale view you can:
  1. Edit the Cash Sale
  2. Email the Cash Sale
  3. Charge the Customer Using Stripe (see Charging a Customer using Stripe)

Accounting

Entering a Cash Sale records the following transactions in the General Journal:
  1. Debits: Bank Account, Cost of Goods Sold (for inventoried items)
  2. Credits: Income Account, Inventory (for inventoried items), Tax Payable

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