QuickBooks POS: Document Types

Document Types Guide... FREE!

Today we are going to talk about the overview of the different types of documents that either affect or don’t affect the QuickBooks accounting. Let’s begin: We have 2 main types of documents in QuickBooks point-of-sale:

1. Posting Transactional Documents — this is a document that has an effect on your numbers or inventory.
2. Non-posting Transactional Documents — this is a type of document that serves a purpose but it doesn’t directly affect the financial numbers or inventory.

• Types of Posting Transactional Documents.

1. Make a Sale document — in these documents you add different items to sell to customer, in that way your system is going to deplete quantities of the items and it’s also going to write numbers to your income account.
2. Return Document — this is the other side of Make a Sale document. This is a document where you accept returned items from your customer. This is a posting document because it affects the numbers in your accounting and quantities in your inventory.
3. Receiving Voucher Document — this will affect your financials in your system because you are getting new quantities inside your point of sale, and it will raise your inventory asset account because these new items are becoming assets. Also, if you have the billing options turned on in the Preferences you can enter billing info on the voucher and it’s going to actually create a bill in your QuickBooks accounting which of course is going to affect your accounts payable.
4. Receiving History Document — this is a document where you can check if you have received an item from your vendor. Also, this is a place where you can Return an item or items from your vendor because the items have issues or damage. The proper way of returning an item to your vendor is receiving all the items in receiving vouchers then go to receiving history find the voucher then do the return to vendor otherwise it will not make sense to your financials and the vendors will still bill you the full amount.
5. Adjustment Memos Documents — we have two Adjustment memos these is New Quantity Adjustment and New Cost Adjustment. These Two documents are located at Inventory menu. Quantity Adjustment is going to have an effect on your inventory because at some point maybe it has something wrong with the items. Cost Adjustment will also affect the inventory as far as how much your assets are worth because your assets are really only worth the value that you paid for them.

• Types of Non-Posting Transaction Documents.

1. Purchase Order Documents — this is a document where you send a message to your vendor to what items you want to purchase. Definitely, it won’t affect your inventory or QuickBooks financial because you’re just trying to order something to your vendor. Nevertheless, even you make a hundred of purchase order and save it it won’t affect your inventory or your financial.
2. Customer Order Documents — this is a document that you can make Sales Order, you can add all sorts of items and add a customer to it then you can save it and it’s really going to do nothing at all until you convert your sales order to Make a Sale. You can convert your sales order to make a sale when you already save the document.

Original Article: https://blackrockbusiness.com/quickbooks-pos-document-types/?feed_id=2939&_unique_id=61b8adc10646f