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BookieDog
December 11, 2018
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Can I enter a deposit without creating an invoice?

  • December 11, 2018
  • 5 replies
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I have been entering a deposit from Home Page>Banking>Make Deposits. I choose an account from the “Receive From” drop-down,  and then choose an appropriate income account from the “From Account” drop-down.  These deposits show on my Profit and Loss and Transaction Rprts. Do I need more?


Best answer by

It's up to you.  Do you want to track your income in any more detail than that?  If not, then you're fine.

5 replies

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Anonymous
Answer
December 11, 2018

It's up to you.  Do you want to track your income in any more detail than that?  If not, then you're fine.

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BookieDogAuthor
December 11, 2018
First, thank you very much for your responses. It is very nice :)...

Olga and Big Red -

I could not find "Sales Receipt" or "Bank Deposit" on my interface, though I have an idea what you mean, if I can find those buttons. I have not had a problem with time lag, I do not think. I don't even use Undeposited Funds, because I usually make my deposits at the bank, about the same time that I do the accounting. Also, I check the bank records for proof of deposit, before I start drawing against it.


So, "(in) that case you can track this pmt and match it with bank feeds." I am not sure what bank feeds are, but I assume that they on-line balances, from the bank. I guess I am tracking that by 1) check register, 2) Transaction Reports, and 3) Profit and Loss Report. Do I also need a Sales Receipt to track them? Is there a way to "track your income in any more detail than that?" Big Red, I think that I am fine, just not sure.

Thank you guys so much for the replies!
qbteachmt
qbteachmt
December 11, 2018

Putting a name in the details of the Deposit screen is sort of meaningless to QB reporting. You bypassed Customer Transactions entirely; you just did Banking and not Sales. Prove it: Try using Reports menu > Sales, Sales by Customer Summary; Sales by Item reporting, too. Open Customer Center to see the transactions for each name.

I recommend taking the video tutorials for how to use the program:

Desktop PC program video tutorials


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    BookieDogAuthor
    December 11, 2018
    That is a great answer, thank you!  Meaningless is a bit harsh, since I have made entries that I can track in my  1) check register, 2) Transaction Reports, and 3) Profit and Loss Report, at least, I think.

    I run two main companies, now, a Real Estate Owner, and a Construction Contractor. Right now, all of my sales, as a Construction Contractor, come from my Real Estate Owner company. Would it do me any good to track those sales? I can see that if the Owners were going to hire my Construction Contractor business, then maybe I should set up for this? Also, thank you for the link. I should look at that Sales Reporting video.

    Thanks for your input!
    qbteachmt
    qbteachmt
    December 11, 2018

    "Meaningless is a bit harsh"

    Look at Customer Center; run Customer-name-based reporting. Try Sales Reporting.

    Deposits bypass all of this. You can use Sales Receipts; you don't need to use Invoicing unless You Need to manage unpaid amounts.

    Here is what I teach: You cannot Report what you did not Track.

    "Right now, all of my sales, as a Construction Contractor, come from my Real Estate Owner company."

    Okay.

    "Would it do me any good to track those sales?"

    Only if you want to see any sort of Meaningful details. I will attach some Report examples from a Construction/Remodel sample file. You can decide if they are meaningful to you, or not.

    "I can see that if the Owners were going to hire my Construction Contractor business, then maybe I should set up for this?"

    This is Your data. You would like to manage your own operations, track what you buy and sell, manage planning, see if people paid, or paid on time, etc. All of this is more than Checking Account deposits.

    It is not unusual to confuse Financial data management with Operations and Activity tracking and reporting.

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    BookieDogAuthor
    December 11, 2018
    Great answers. Thank you for your time in explaining that to me. It will take me some days to try to digest this, as I have some other fires that I am fighting, as well. Thank you for the resources. I will make another comment, if I think that I have the brain power to do so. Once again, thank you very much!
    qbteachmt
    qbteachmt
    December 11, 2018

    I used the word "meaningless" as a Sliding Scale. Even though you are your own customer, you might like to use Estimates to plan projects and manage cost control, for instance.


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    Olga1
    December 11, 2018
    Hello,
    I would create "Sales Receipt" before "Bank Deposit".
    At that case you can track this pmt and match it with bank feeds.
    A
    Anonymous
    December 11, 2018
    How is this better?

    The deposit works the same way with bank feeds no matter what its contents, no matter if it contains sales receipt or payments or direct income.
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