9/18/2014 Invoices, Statements & Sales Receipts

QuickBooks Online Tweet Chat – Invoices, Statements & Sales Receipts

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IconisGroup
Mon, Sep 22 2014 14:26:17

QuickBooks Online Tweet Chat – Invoices, Statements & Sales Receipts

9/18/14 #QBOChat Transcript

  1. Welcome everyone to #QBOchat. Please introduce yourselves to the group -> Name, location & name of biz.
  2. Today we’ll be discussing Invoices, Statements & Sales Receipts. Please share your thoughts and comments as we go. #QBOchat
  3. #QBOChat happening now! Just include #QBOChat in your tweet to join the conversation!
  4. The first question is right around the corner, remember to use A1, A2, etc when answering a question. #QBOchat
  5. @AustinNexus, I never followed up – are we still on for next week’s chat? (Before I announce at the end today.) #qbochat
  6. @CathyIconis I’m here! Kaydee Peterson from Vancouver Wa (Portland Metro) Peterson Business Services! Adv. Cert. ProAdvisor & TWN #qbochat
  7. Q1: What are the big differences between invoices, statements, & sales receipts? #QBOchat
  8. Q1: What are the big differences between invoices, statements, & sales receipts? #QBOchat
  9. So much going on for us at @Finagraph today, but we’re still here at #QBOChat!
  10. RT @IntuitAccts: #QBOChat happening now! Just include #QBOChat in your tweet to join the conversation!
  11. RT @PetersonBizSvcs Kaydee Peterson from Vancouver Wa (Portland Metro) Peterson Business Services! Adv. Cert. ProAdvisor & TWN #qbochat
  12. RT @Finagraph So much going on for us at @Finagraph today, but we’re still here at #QBOChat!
  13. @CathyIconis We’re on – we’ll have a team participating from Bainbridge Island #qbochat
  14. Same here Melissa…lots going on! lol RT @buckeyechic: Melissa Chicago. Trying to follow #qbochat while I also do 6 other things #qbochat
  15. @CathyIconis Right now I have a large cup of @KckngHrseCoffee at my desk and I’m feeling very productive. How are you this week? #QBOchat
  16. Well @crepetto said he would join us this week b/c he loved last week so much – BUT we might have to use some peer pressure! #qbochat
  17. #QBOCHAT Hi
    ina from Ginas InterNet Advising from Philadelphia PA
  18. A1 Not as much as there used to be! You caqn now include a mini statement on the invoice #qbochat
  19. A1: An invoice is a request to be paid and stays open until you apply a payment to the invoice. #QBOchat
  20. A1 But invoices are for single charge, statements list all open invoices and current balance, and sales receipts record sale & Pmt #qbochat
  21. A1 statements are a list of invoices that need to be paid. #qbochat
  22. #qbochat @bftcpa of @K2Enterprises here, participating while moderating a pre-recorded webinar for CalCPA
  23. RT @bftcpa #qbochat @bftcpa of @K2Enterprises here, participating while moderating a pre-recorded webinar for CalCPA
  24. #qbochat Its a small thing but why are Statements shown under the “Other” and not “Customers” in the menu?
  25. A1: Invoices represents an agreed transaction between a buyer and a seller, where payment for services is owed. #QBOChat @CathyIconis
  26. Great question! RT @GinasNet #qbochat Its a small thing but why are Statements shown under the “Other” and not “Customers” in the menu?
  27. A1: sales receipts are one stop shop invoices are great that we can customize #qbochat
  28. @CathyIconis: Today we’ll be discussing Invoices, Statements & Sales Receipts. Please share your thoughts and comments as we go. #QBOchat
  29. A1: A sales receipt is an invoice + payment in one, usually used for when customers pay you on the spot. #QBOchat
  30. @CathyIconis I have a head cold but am excited that we announced our $100k prize pool for the #qbconnect hackathon #qbochat
  31. @lorifraleigh That is freaking cool! Do you want to share that here too? #qbochat
  32. #QBOtip: Make sure to use the invoice or sales receipt form if you want revenue to show up on any “Sales” reports. #QBOchat
  33. @CathyIconis #QBOChat is a good way to turn that around. For some reason, I always feel energized after talking to Pro Advisors and CPAs.
  34. I like sales receipts if it works for the situation. RT @jazfun A1: invoices are easier to work with IMHO #qbochat
  35. Me too!! RT @OBGregg @CathyIconis #QBOChat is a good way to turn that around. For some reason, I always feel energized…
  36. I rarely use sales receipts…no one really asks for one. #qbochat
  37. Hey, Ryan!! How has your week been? RT @ryclaykelley Hi from the Detroit airport!#QBOchat
  38. When do you get paid? RT @MrScottClark I rarely use sales receipts…no one really asks for one. #qbochat
  39. We’re hearing that more and more! RT @MrScottClark I rarely use sales receipts…no one really asks for one. #qbochat
  40. Clients always get excited when I tell them that a sales receipt is and invoice AND payment in one. #savestime #ifthesituationfits #qbochat
  41. @CathyIconis We use due on receipt for terms, but we’re okay with getting paid by 30 days. #qbochat
  42. but they should be given to prove pmt was received for IRS RT @MrScottClark I rarely use sales receipts…no one asks for one. #qbochat
  43. Hey, Vik!! RT @ExpensePath Hi, Vik from @ExpensePath joining late – multitasking but couldn’t stay away #qbochat
  44. Q2: What are some real-life examples for each type of sales transaction available in #QuickBooksOnline? #QBOchat
  45. @tsheets Would you say that cloud accounting software is responsible for pushing sales receipts out of favour? #QBOChat
  46. RT @KeepingBooksCC but they should be given to prove pmt was received for IRS RT @MrScottClark I rarely use sales receipts #qbochat
  47. @CathyIconis Rarely do we get paid right away, but that’s because of how things have to work with some of our clients. #qbochat
  48. @davidleary I’m going to test that out more and have some cool ideas around it for later 🙂 #qbochat
  49. @OBGregg Definitely! That and online banking – everything’s always available, no need to get an immediate receipt. #QBOChat
  50. @KeepingBooksCC A lot of our clients will get paid by their client and then they pay us, so maybe that’s why I don’t get asked? #qbochat
  51. @MrScottClark I got ya! But, using upon receipt and not sticking with it kind of creates a bad precedent. #qbochat
  52. #qbochat I sometimes use sales receipt for customer deposit and invoices for all else as another way to sort
  53. A2: Contractors can create estimates, then once approved convert quickly to invoices to request payment. #QBOchat
  54. @CathyIconis fantastic! nothing but cool weather and QBO hear in lovely Michigan #QBOchat no its time for me to get back to the desert
  55. A1; sales receipts don’t show in all reports watch which one you are picking #QBOchat
  56. A2 Say I do a one hour training session, client pays up front, I make a sales receipt #qbochat
  57. @jazfun Do you have an example? I know if you put things as straight deposits they don’t show up. #annoying #qbochat
  58. RT @KeepingBooksCC A2 Say I do a one hour training session, client pays up front, I make a sales receipt #qbochat
  59. A2: Sales receipts or invoices can be used to record the summary of daily sales from an external POS System. #QBOchat
  60. @CathyIconis Well now I’m have to reconsider my approach. Good thing is I don’t have too hard of a time getting paid w/ in 30 days #qbochat
  61. Setting invoices to de on receipt skews your aging reports @MrScottClark #QBOchat
  62. @jazfun leave it to the two desert girls to freeze our butts off in San Diego! #80isthenew50 ? #qbocqbochat
  63. A2 But if client is going to pay me for a job, again still up front, but paid as their convenience, I send an invoice #qbochat
  64. @MrScottClark Just wait for that one client to start getting behind… Slippery slope #qbochat
  65. @CathyIconis Being able to quickly convert quotes to invoices is definitely a selling point. 🙂 #QBOChat
  66. @CathyIconis I’m at #cloudsummit14 today, so won’t be able to join the craziness. Say hi to Ron Baker for me though! #qbochat
  67. RT @KeepingBooksCC A2 But if client is going to pay me for a job, still up front, but paid as their convenience, I send an invoice #qbochat
  68. A2 And if a client has a balance owing at the first of the month, I send a statement #qbochat
  69. LOL! RT @crepetto I’m at #cloudsummit14 today, so won’t be able to join the craziness. Say hi to Ron Baker for me though! #qbochat
  70. RT @CathyIconis: A2 Sales receipts are good ways to process payments directly in #QuickBooksOnline. #qbochat
  71. A2 I’m currently entering a bunch of sales receipts for the PTA memberships I got at last night’s school open house #qbochat
  72. @CathyIconis: @jazfun Do you have an example? #annoying #qbochat” yes ar aging., sales by customer
  73. @buckeyechic Great example!! And… reminds me how far behind I am on my PTA duties. #ugh #qbochat
  74. A2: Statements can be used for customers that have multiple transactions with the business each month. #QBOchat
  75. Haha I don’t think Ron will make it either RT @crepetto @CathyIconis won’t be able to join the craziness. Say hi to Ron Baker #qbochat
  76. @jazfun It should be on Sales by Customer, but I can see why it wouldn’t be on A/R Aging. #qbochat
  77. RT @AustinNexus RT @OBGregg: @CathyIconis Being able to quickly convert quotes to invoices is definitely a selling point. 🙂 #QBOChat
  78. @CathyIconis I have had dealt a few bad apples. I just need to stay on top it. #qbochat
  79. Me too!! RT @MrScottClark @CathyIconis I have had dealt a few bad apples. I just need to stay on top it. #qbochat
  80. @CathyIconis agreed! and you can make it recurring so it works great for business with monthly service fees! #QBOchat
  81. @MrScottClark My biggest issue is that I create the invoices and forget to press the darn SEND button. Happens almost every month. #qbochat
  82. RT @ryclaykelley @CathyIconis agreed! and you can make it recurring so it works great for business with monthly service fees! #QBOchat
  83. I really like the customization and putting the statement in the invoice #simplicity #qbochat
  84. A2: Recurring sales receipts with payment information can be scheduled monthly for subscription services. #QBOchat
  85. That is why the save and send button is so great! RT @CathyIconis @MrScottClark I create invoices & forget to press SEND button #qbochat
  86. @KeepingBooksCC @MrScottClark I really don’t understand why it is so hard for me. I am in business to do this stuff!!! #qbochat
  87. @CathyIconis: @jazfun It should be on Sales by Customer, Yes the detail is ok but summary I think.. One of them #qbochat
  88. But, it is usually 15 days later (I bill twice a month) that I go in and see that an invoice was never emailed. #qbochat
  89. #qbochat, sweet, glad I could make it! hey, what do you need QBO Plus to do for job costing? As we build it in, what is critical?
  90. Q3: What are some sales form limitations in #QuickBooksOnline that users should know about? #QBOchat
  91. @CathyIconis: @jazfun Argh – now I wanna look that up. #qbochat” yes help me with it! I put in a fix
  92. @Kimtuitive @ryclaykelley I’m a Ryan fan now that I met him and he introduced me to a rockin new contractor for me 😉 #qbochat
  93. RT @CathyIconis Q3: What are some sales form limitations in #QuickBooksOnline that users should know about? #QBOchat #qbochat
  94. A3 You have limited control over the layout and appearance! #qbochat
  95. A3: I’ll be honest, I’ve heard about limitations on the invoice templates, but, I’m not entirely sure about them. Thoughts? #QBOChat
  96. RT @KeepingBooksCC A3 You have limited control over the layout and appearance! #qbochat
  97. @CathyIconis And for non profits (like churches) that have members that want to give weekly donations! #QBOchat
  98. Good point & howdy!! RT @qbclay @davidleary @CathyIconis #qbochat, well, you cannot create your own templates
  99. @qbclay @davidleary @CathyIconis Oh! Not being able to at all would definitely be a limitation, haha, thank you! #QBOChat
  100. and there is no layout deisgner. and limited columns to add or remove. and only one logo allowed in qbo. #qbochat
  101. @qbclay make it work like the desktop product, please. #qbochat Job costing hard enough with one approach, two approaches is too hard 4 all.
  102. Ouch. The longer it takes to send an invoice, the longer it takes to get paid. @CathyIconis #QBOChat
  103. @paigenow is working on that “@qbclay: A3: @davidleary @CathyIconis #qbochat, well, you cannot create your own templates”
  104. RT @davidleary @paigenow is working on that “@qbclay: A3: @davidleary @CathyIconis #qbochat, well, you cannot create your own templates”
  105. RT @OBGregg Ouch. The longer it takes to send an invoice, the longer it takes to get paid. @CathyIconis #QBOChat #qbochat
  106. @bftcpa #qbochat, cool, i am webexing with one of PMs over qbo, I am going to show her job costing in QBDT
  107. @bftcpa @qbclay No!!! We love #QuickBooksOnline being different. It’s the new and improved version – that is expanding everyday. #qbochat
  108. A3 No control over font or color for company name and address, or logo size and placement, other than side of form #qbochat
  109. A3: Sales forms still have their limits as to how far they can be customized. #QBOchat
  110. RT @KeepingBooksCC A3 No control over font or color for company name & address, or logo size & placement, other than side of form #qbochat
  111. A3 I still think QBO needs to learn from Xero on formatting forms #qbochat
  112. @KeepingBooksCC #qbochat need more font options. Need more column options. Need to create templates, multiple logos to choose from.
  113. #qbochat Big improvements to sales form cust coming thruout this FY
  114. RT @KeepingBooksCC: A3 I still think QBO needs to learn from #Xero on formatting forms #qbochat
  115. Job costing and job costing! RT @QuickBooksUK What two things are the most important one two improve first? #QBOchat
  116. A4: Create copies of invoices and use the rate field to show progress billing. #QBOchat
  117. @lucindalintz It used to and I don’t know where they are on the new QBO yet? I think they have updated that recently. #qbochat
  118. A4. OfficeBooks:  https://appcenter.intuit.com/officebooks  Invoices + Inventory management, notifications for your team, support for @stripe payments #QBOChat
  119. QBO 25% Xero 10% RT @CathyIconis@QuickBooksUK What percent of your clients are #QuickBooksOnline, #Xero, and other? #qbochat
  120. @CathyIconis It’s interesting being on this side of the chat and not hosting. #QBOchat
  121. @lucindalintz: a client want to combine time sheet the group by type works pretty well! Rest try you might have to. Change type #qbochat
  122. Hello #qbochat from a BART train under San Francisco. Believe it or not I can see your tweets down here!
  123. RT @maddyreeves Hello #qbochat from a BART train under San Francisco. Believe it or not I can see your tweets down here! #QBOchat
  124. Q5: What are common errors you see when it comes to the use of sales forms in #QuickBooksOnline? #QBOchat
  125. Which carrier? RT @maddyreeves: Hello #qbochat from a BART train under San Francisco. Believe it or not I can see your tweets down here!
  126. RT @CathyIconis Q5: What are common errors you see when it comes to the use of sales forms in #QuickBooksOnline? #QBOchat
  127. A5 Sending a statement when an invoice is the right thing #qbochat
  128. RT @KeepingBooksCC A5 Sending a statement when an invoice is the right thing #qbochat
  129. A5: my FAVORITE is sales receipts and then the client makes another deposit! #QBOchat
  130. RT @jazfun A5: my FAVORITE is sales receipts and then the client makes another deposit! #QBOchat > Oh no!!
  131. RT @CathyIconis: @GetApp – How are you liking our chat? It was awesome to experience a different one (yours) yesterday. #qbochat
  132. @PetersonBizSvcs that would be fabulous! I think InDesign is a popular tool. #qbochat
  133. A5: I’ve had clients mark items as taxable on an invoice, but don’t select the tax rate – so nothing ends up getting taxed. #qbochat
  134. A5: Be careful not to charge for the same thing on multiple invoices. Run sales by customer detail to check. #QBOchat
  135. Thanks I will!RT @jazfun @lucindalintz Client wants to combine time sheet lines -Group by type works well might have to Change type #qbochat
  136. @CathyIconis @DanethaDoe @PetersonBizSvcs InDesign. That’s the Adobe product for publication design and layout, right? #QBOChat
  137. @maddyreeves hey girl! Great to see/ read your face/ tweets! See you soon! #qbochat
  138. @CathyIconis @PetersonBizSvcs it’s a design program that marketing/branding people like to use to create their invoices…#qbochat
  139. A5: Run the unbilled charges report to make sure you have invoiced everything. #QBOchat
  140. @CathyIconis Oh, that’s a good way to get in trouble with the IRS/CRA. #QBOChat
  141. Side note: my back is killing me and taking my breath away. #wuss #qbochat
  142. Yes! @tsheets: @CathyIconis @DanethaDoe @PetersonBizSvcs InDesign. That’s the Adobe product for publication design and layout #QBOChat
  143. Back pain is horrible! RT @CathyIconis Side note: my back is killing me and taking my breath away. #wuss #qbochat
  144. @OBGregg Part of my job is to double-check that before the return is filed. #qbochat
  145. A5: Make sure to properly apply payments before sending out statements or invoices with aging detail. #QBOchat
  146. Not to mention the client! RT @OBGregg @CathyIconis Oh, that’s a good way to get in trouble with the IRS/CRA. #QBOChat
  147. I’ve messed that up before RT @CathyIconis A5: Make sure to properly apply payments before sending out statements or invoices. #QBOchat
  148. @davidleary @QuickBooks @GetApp By the way, I love how QBO is still listed as an App on Intuit’s App Center. #qbochat
  149. Just a few minutes left for this week’s #QBOchat. What is your favorite take away?
  150. Yes, TY! Have a fab weekend everyone. *Muah* @CathyIconis: RT @jazfun Thank you again @CathyIconis awesome chat #QBOchat
  151. @jazfun @Kimtuitive you gotta get her shoes in the pic next time! how will we know what’s hot on the streets otherwise? 😉 #QBOchat
  152. Well it is both! apps for iOS, Android, and Mac RT @CathyIconis QBO is listed as App on Intuit’s App Center. #qbochat
  153. Remember to signup for our weekly reminder email so you don’t forget #QBOchat.  http://ow.ly/wT7zl 
  154. @CathyIconis @MrScottClark Reason #452 to hire an accountant: They’ve already made all the mistakes, so you won’t have to. #QBOChat
  155. RT @OBGregg @CathyIconis @MrScottClark Reason #452 to hire an accountant:They’ve already made all the mistakes so you won’t have to #qbochat
  156. More changes to sales form customization coming! RT @CathyIconis What is your favorite take away? #qbochat
  157. That’s it for this week’s #QBOChat, thanks for taking the time to tweet with us!

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QBOchat Admin

#QBOchat began in July 2013 with the simple idea to host a weekly Twitter conversation around QuickBooks Online (QBO). We have since grown into a very strong community comprised of a diverse group of users. Our weekly tweet chat is held each Thursday at 3:00PM Eastern. The discussions cover a wide range of topics including QBO’s latest features and updates, business operation tips and apps that integrate with QBO, to name just a few.

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