Using Sales Receipts

Available in Quicken Business & Personal

Overview

A sales receipt records a sale when you deliver a product or service and receive payment at the same time.

In simple terms:
A sales receipt means the sale is complete and paid for immediately.

It documents what was sold, confirms payment was received, and records income to the correct account—all in one step.

Why Sales Receipts Matter

Sales receipts keep your books accurate and efficient when payments happen right away.

Using sales receipts helps you:

• Record income the moment it’s earned

• Keep profit, tax, and income reports accurate

• Avoid creating unnecessary invoices or Accounts Receivable

• Provide customers with immediate proof of purchase

• Reduce cleanup and corrections later

When used correctly, sales receipts simplify bookkeeping and keep cash flow and reporting clean.

When to Use a Sales Receipt

Use a sales receipt when:

• The customer pays on the spot

• The product or service is delivered immediately

• No balance remains after the transaction

Common payment types include:

• Cash

• Checks

• External card payments (such as Square, PayPal, or Venmo)

Quick Decision Guide

Ask one question:

Has the customer already paid?

• Yes → Use a Sales Receipt

• No → Use an Invoice

If the customer walks away fully paid, a sales receipt is the correct choice.

Sales Receipt vs. Invoice

Choosing the right tool prevents bookkeeping errors and saves time.

Bottom line:
Sales receipts are for immediate payment. Invoices are for payment later.

How Sales Receipts Work

When you create a sales receipt:

• Revenue increases immediately

• Cash (or the selected bank account) increases right away

• No Accounts Receivable is created

This reflects the reality of the transaction: the sale is finished, and no money is still owed.

Examples

• Service provider: A therapist is paid in cash after a session → Sales Receipt

• Home services: A customer writes a check before you leave → Sales Receipt

• Food & beverage: Coffee shop or market vendor sale → Sales Receipt

• Rental: Guest pays upfront for a short-term stay → Sales Receipt

• Retail: A customer buys a candle in your shop and pays by card → Sales Receipt

Using Sales Receipts

You can create sales receipts when:

• You’re with the customer and taking payment

• You’re recording a payment you already received

• You’re matching a downloaded bank transaction later

If payment is received first and the bank transaction downloads later, you can convert or match it to a sales receipt to keep records accurate.

Creating a Sales Receipt

You can create a sales receipt either at the time of payment or after payment has already been received.

When you’re paid at the time of sale:

1. Go to Sales & Billing > Sales Receipts

2. Select + New Sales Receipt

3. Enter the customer and the items or services provided

4. Choose the payment method (cash, check, or external card payment)

5. Select the deposit account

   • Use Undeposited Funds if you plan to deposit multiple payments together later in bulk deposit (For more information see Using the Undeposited Funds Account for Sales Receipts )

6. Email or print the receipt if needed

7. Save the sales receipt

If the payment has already downloaded from your bank:

1. In Transactions, click the three dot button next to the transaction and select Create Sales Receipt.

2. Add the item or service details

3. Save the receipt

This ensures income is recorded correctly and reports remain accurate.

Where Sales Receipts Appear

Sales receipts contribute to income totals just like invoices and appear in:

• Sales & Billing > Sales Receipts

• Clients & Projects (filtered by customer)

• Reports, including:

  • Profit & Loss

  • Tax reports (income sections)

Sales Receipt Statuses

Sales receipts use two statuses to support reconciliation:

• Pending — payment recorded but not yet matched to a downloaded transaction

• Cleared — matched to the bank deposit

These statuses help ensure reports and account balances remain accurate.

Sending Receipts to Customers

You can email or print a receipt at any time:

• When creating the receipt

• From the Sales Receipts list

• From Clients & Projects

Receipts automatically include your business branding.

Best Practices

• Create sales receipts at the time of payment whenever possible

• Use clear, itemized descriptions for better reporting

• Be consistent with payment and deposit accounts

• Periodically review unmatched receipts to ensure accuracy

The Bottom Line

Sales receipts streamline your workflow when you’re paid immediately.
Invoices are designed for situations where payment comes later.

Using the right tool from the start keeps your profit, cash flow, and tax reporting accurate—and saves time fixing errors down the road.