Summary

In this chapter, you have learned how to record sales transactions using a sales receipt, a deposit, and a sales invoice. You now know when to use each sales transaction, and how to record them in QuickBooks Online. We have also covered the journal entry recorded behind the scenes by QuickBooks for each transaction. In addition, you have learned how to record customer payments so that they are correctly applied to open invoices, and how to issue credit memos and refunds to customers. In the next chapter, we will look at how to record the money that flows out of your business to cover expenses.