It is possible to give credit to customers in QuickBooks Point of Sale. While the POS software itself does not track these transactions, QuickBooks Financial does. And, when these two software packages are used together, we have a complete solution for handling these types of transactions.
In QuickBooks Point of Sale (QBPOS) the process begins like any other sale. It is only at the point of choosing the payment type that the sale specifically becomes a house charge.
The items being sold are entered. The customer has been selected from the customer list. It is required that house charges include a customer.
Choose the payment type “Account”.
A simple window opens asking you to confirm the charge and/or enter a payment to be recorded against this customer’s account.
If this is a new charge customer, a second window opens. This one asks you to confirm that, yes, you want to setup this customer as a charge customer. It also allows the setting of a credit limit.
At this point the transaction can be completed as normal. But, what about the customer balance? What if we want to send this customer a statement?
These functions, tracking customer balances, statements, and so on, can be handled by the QuickBooks Financial (or accounting) software we are familiar with. We must have setup both to integrate with each other, a task which is fairly simple.
Then, when a financial exchange is done, usually at the end of each day, QBPOS sends the information about Jane Smith’s purchase to QuickBooks.
Above is a screenshot of the invoice in QuickBooks created by QBPOS. You can see the memo at the bottom of the invoice. QBPOS inserts the information here telling us what sales receipt number in QBPOS created this invoice in QuickBooks Financial.
We have all the QuickBooks capabilities with this invoice that we would if it were originally created in QuickBooks Financial. This would include QuickBooks’ ability to create reminder statements, finance charges and so on.
Hector Garcia, CPA
Certified Advanced QuickBooks ProAdvisor
12401 Orange Drive #136
Davie, FL 33330
954-414-1524
hector@garciacpa.com
