QBO is not set up to go from Estimate to Sales Receipt at this time. Currently, you create Estimate and then “copy estimate to invoice” to create an Invoice. There is no partial copy so it’s done just one-time. You receive payment against that invoice.
Workaround steps from Estimate to Invoice may also work as faster as creating from Estimate to Sales Receipt approach. Follow these steps, it may work as an alternative to Estimate to Sales Receipt.
First, you will need to enable “Shipping” in the company settings.
Just follow these steps below:
1. Select Company Gear icon at the top right corner.
2. Click to Company Settings, select Sales.
3. Under “Sales form content” place, click the pencil icon and place a checkmark to the box next to “Shipping” to turn on the address.
4. Click on Save.
You also need to put in the customer’s shipping address in the Customer Details section for the shipping address to show in the packing slip.
You can edit your customer’s information through the steps below:
1. Click on the Customers tab on the left navigation bar.
2. Look for that specific customer and click on their name.
3. Once you’re in their account, click on “Customer Details” column.
4. Click on the “Edit button” at the far right side.
5. You can now edit your customer’s shipping address.
6. Once you’re done, click the Save button located on the bottom right corner of the screen.
(You can also add shipping address directly on the Invoice form, but that will not update customer details page)
After doing these steps, create an invoice, select Print or Preview (at the bottom) and try to “Print packing slip”.
At this time, PACKING SLIP is just for Invoice, it’s not available for Sales Receipt. I’d suggest sending feedback to Intuit QBO team. Just click the Gear icon (upper right corner), and click “Feedback” under Your Company.
Assuming you already have a recurring Sales Receipt template setup (*) for a customer and that recurring template shows an email address for the customer, you will need to do the following.
From the home page screen:
left navigation bar
From the customer center page, select a customer
Select “Edit” button (upper right corner) or Go to the “Customer Details” tab (default set is Transaction List) and click the “Edit” button
Go to the “Payment and billing” tab
Set the “Preferred delivery method” to “Send Later”
This updates the customers delivery method to email and the “Scheduled” recurring sales receipts will automatically run and send emails to customers.
* Creating recurring Sales Receipt Template – from the home page screen > company gear (upper right corner) > lists > recurring transactions > new > transaction type > sales receipt > OK > template name for a customer and fill out the information.
“Sync with Paypal” app is for importing PayPal transactions into QuickBooks Online. All import will directly post into Quickbooks, eliminating the need for any double or manual entry. This is quite different from connecting bank accounts and downloading new bank transactions in QuickBooks banking center (transactions > banking). Since it directly posts without your review or approval process, you will have to rely on certain specific reports later in QBO.
This is a well-tested app. It is very easy to setup. It is FREE for all QuickBooks Online customers (up to 100,000). Sync with PayPal is currently available in the United States only.
Before you are ready to click “Get App Now” blue button, let’s analyze more and see if this app is right for your business.
This app is ideal for:
Service-based businesses where you do not invoice your customers.
Product-based businesses where you do not track inventories in QBO. Also, customer invoicing is not involved.
This app is not ideal for:
Businesses tracking inventories in QBO
Businesses need to invoice to receive payment
Companies with QBO plus plan and tracking class and location
Companies using PayPal mainly for purchases
Companies have several PayPal accounts and transfer funds between those accounts
Importing sales transactions
Importing purchase transactions
Importing bank transfers
Importing Paypal fees and posting it to proper account
Importing sales tax and posting it to proper account
Automatically importing customer payment information and filling out “Customer Information” screen in QBO. Big time saver.
Automatically creating Sales Receipt with properly filled out fields. Bank feeds cannot do that yet. You may be able to create Sales Receipt from a bank feed, but not automatically creating Sales Receipt. This is a huge time saver. Most importantly, think of it as if someone is doing behind the screen a great bookkeeping job for you for FREE. You cannot beat that price.
Click on the screenshots below to enlarge them
One more thing before you can click “Get App Now” blue button, you will need to do some homework in QBO.
Decide income account you want to use for sales transactions. Review and set up new accounts to Chart of Accounts if needed. That is the income name (& account if enabled) you will see it later in the Profit & Loss Report
You will also need to enable Sales Tax rate and agency settings (if applicable and not done yet). Left navigation bar > Sales Tax > Sales Tax Center > Related Tasks (right side) > Add/edit tax rates and agencies. In QBO, for sales tax, they use default account setting. So, there is no need to create Sales Tax Payable Account. It does it automatically once you have Sales Tax Agency setup done.
Note: See step#7 for default account for reference.
If you currently connect your PayPal account through QuickBooks bank feeds (Transactions > Banking), it is IMPORTANT to:
Make a note of last downloaded transaction date
Review “New Transactions” column. Make sure all downloaded transactions are posted into QuickBooks. You should see “No transactions to process” note.
Make sure to disconnect it before installing the Sync with PayPal app to avoid duplicate entries.
To disconnect: From the home page screen > Left blue navigation bar > Transactions > Banking, click the PayPal card at the top of the page, click the pencil icon, click Edit account info, select the checkbox “Disconnect this account on save,” and click Save.
Let’s review the process part to get this app now.
To get this App from QBO:
From the home page screen
Left blue navigation bar
Choose “Sync with PayPal” (with PayPal logo)
Click “Get App Now” blue button (upper right)
Your authorization to Start using sync with PayPal with QuickBooks will start
You will need to login to your PayPal account once
The whole process takes less than ten minutes (with careful app settings review)
Step#4 Grant permission to Intuit
Step#5 Review Your App Settings
STOP! DO NOT CLICK “CONNECT” BUTTON YET. Now, it’s time to review your settings from date range to selection of various accounts to post. This is the most important part of the whole “Sync with PayPal” process!
You can download transactions just once. There is no batch actions to fix it once it is already posted into QBO.
Decide transactions date range setting
Review “App Settings” one by one
Step#6 Past Transactions
Click “Change” link under “Past Transactions”
Select Date Range
You can import your past transactions for up to 18 months. You can import from here just once. Select date range carefully. Note: Do not select up to today’s date. Always up to yesterday’s date.
Step#7 App Settings
PayPal Account – PayPal Bank (default)
Choose one from the list if already using PayPal
Sales – Paypal Income (default)
Choose one from the list for income account
PayPal Fees – PayPal Fees (default)
Choose one from the list if you already have preferred merchant fees account
Sales Tax – PayPal Sales Tax (default)
Do not use default one. Use from the list you are using or newly created, the one with correct tax agency name.
Payment Method on Transactions – PayPal (default)
Give them some credit for giving you free app. If not, you can use other payment method
PayPal Customer > All Details Three to choose from
Do not track – no customer selection: It will create Sales Receipt with no customer selection (blank “choose a customer” field). If payment received is from sales, it’s better not to select this one.
Integration Default – All Sales assigned as one customer: This one is perfect if you do not want to track sales by customers like daily sales type of record
All Details – Sales Receipt with entered fields on Sales Receipt form: This one is perfect for customer tracking and running various meaningful sales reports.
You may have noticed that the following transaction types are not mentioned:
It will automatically create “PayPal Funds Transfer Account” and transfer the funds to that account. Since it is coming out from the PayPal account, you should see as negative amount on the balance sheet ( or bank register). So, on the banking center (bank feed), when you see money coming in from PayPal account, you will have to choose this “PayPal Funds Transfer Account” rather than actual PayPal Bank account to clear the balance. If you are entering manually, enter as bank transfer (create + sign > other > bank transfer)
For shipping charges from Sales Receipt, it will automatically create PayPal Shipping as Item and also post to Shipping Income account.
For Purchases – everything goes to Uncategorized Expense (default) accpunt. No choice here. From there, you will have to manually categorize expenses to proper accounts. You will see more details below on how to handle it.
In case you own multiple Paypal accounts and you are transferring money from one PayPal account to another PayPal account (not bank transfer), it may create sales receipt and will record as income. That is incorrect. You will need to pay attention to that type of transactions and handle it appropriately on your books. Be warned!
Step#8 and Final
Once they appear in QuickBooks, you will need to run the following reports (or more) for review:
Account Quick Report for PayPal Bank Account
Left navigation bar > transactions > chart of accounts > PayPal Bank Account > Action > Run Report (pull down arrow next to view register).
This quick account report should show all transactions (sales receipt, expense, transfer) type.
Note: Customized report with few columns removed.
Account Quick Report for PayPal Funds Transfer Account
Left navigation bar > transactions > chart of accounts > PayPal Bank Funds Transfer Account > Action > Run Report (pull down arrow next to view register)
You really need to pay attention to this account. This account should end up with zero balance once transactions are added from the bank feed for “money-in”.
Note: Customized report with few columns removed.
Uncategorized Expense Account
Left navigation bar > transactions > chart of accounts > Uncategorized Expense Account > Action > Run Report
You will need to run this report on a regular basis. You may want to customize this as your own report.
To customize, run this report > change “Transaction Dates” to “All Dates” > select “Run Report” > select “Save Customizations” button > Name of custom report = PayPal Uncategorized Expense > share with other users if needed > OK
Now, it is time to categorize these expenses to appropriate accounts one by one manually until they are all gone. “This report contains no data”. Yes, that’s what you want to see!
Next time you want to run this report again, it comes in very handy. Will save you time.
Left navigation bar > reports > my custom reports > select PayPal Uncategorized Expense under Name column > click it and categorize to appropriate accounts.
In QBO Essentials and Plus, you can create a Recurring Sales Transaction to be used at the end of each day to record your daily sales transactions.
This YouTube video will show step by step instructions on how to record daily sales in QBO. We highly encourage you to watch the entire video. You do not want to miss a step!
You will need to create a few new accounts in the Chart of Accounts:
Clearing Account (Category Type = Banking)
Income Account (Category Type = Income)
Overage/Underage Expense Account (Category Type = Expense)
To create new accounts (left blue navigation bar > transactions > chart of accounts > new)
You will need to create Products/Services associated with the following account types:
Sales categories = Sales Income account (make it taxable if your charge sales tax)
Cash= Undeposited funds
Checks= Undeposited funds
Visa/MasterCard = Undeposited funds
American Express = Undeposited funds
Discover = Undeposited funds
Overage/underage (for drawer shortages) = Expense account
To create products/services list (from the home page screen > company gear (upper right corner) > lists > products/services > new (upper right corner)
You will also need to enable sales tax settings (if needed).
Sales tax = (left blue navigation bar > sales tax > add/edit tax rates and agencies). QBO will automatically create a Sales Tax Liability account. You do not need to create sales tax account in the Chart of Accounts separately.
Now you need to create recurring Sales Receipt template (from the home page screen > company gear (upper right corner) > lists > recurring transactions > new (upper right corner).
Now you are ready to create a Sales Receipt for each day based on end of the day Cash Register run (from the home page screen > company gear (upper right corner) > lists > recurring transactions > use under action column).
Note: By recording all of the Sales as positives and all of the Payments (Expenses & Cash Shortage) as negatives, the net amount of the Sales Receipt should be Zero.
In this example, at the end of the day, you have $1,000.00 in Sales, $80.00 in Sales Tax. The cash register count for Cash is $200.00, ‘Checks’ is 300.00, Visa/MasterCard is $390.00, American Express is $80.00, Discover is $80.00 and Cash Shortage is $10.00. The sales report that day shows $1,080.00 in Sales ($1,000 sales income plus $80 sales tax).
In case of additional expense payments from the cash register, create new products/services mapped to appropriate expense category of Chart of Accounts.
Finally, go to Undeposited Funds and record the deposit for the amounts actually deposited in the bank.
To do this (from the home page screen > create + sign > other > bank deposit). Select deposit date in QBO based on bank posting date.
Note to Simple Start users: since there is no “Recurring Transactions” feature available in Simple Start, you will need to follow all the setup instructions and create a Sales Receipt for daily sales. Transactions will be recorded the same way in QBO.
This QBO tutorial video is a step-by-step guide to complete invoicing process (Customer Invoicing, Sales Receipt, Receive Payment and Bank Deposit). It covers how to handle all forms of payments like check, credit card, debit card, PayPal and Amazon payments. It explains how to record merchant service fees as well as PayPal and Amazon fees. It also explains how to match bank downloaded transactions.