How The Accounts Receivable works in QuickBooks?
Today, here we are going to discuss how the Accounts Receivable works in QuickBooks. There are 5 ways through which you can work and you can opt any one way to do so. The accounts receivable is used to maintain the money records in the business for goods and services. It is made for the amount that you have not received yet for the goods. You must use it to record the transaction for your future tax payments and for avoiding penalties. Ways for Accounts Receivable works in QuickBooks The ways are as follows:- Workflow 1: Estimate – Sales Order – Invoice – Payment – Deposit You can easily use this workflow if you want to send the proposal to the client. It will also change into sales order before creating any invoice and collect payments. The steps for this workflow are as follows- Create an estimation for the products and services Now you need to create a sales order An invoice has to be created Do record the payment Then deposit customer payments Workflow 2: Inv