A cash sale occurs when a customer pays for goods or services immediately upon delivery. No credit is extended by the seller. No account receivable is created. Resulting revenue is posted immediately to an income account, regardless of whether the business uses accrual or cash basis accounting. Therefore, no sales invoice is required. The entire transaction occurs in a single step.
Before a cash sale can be entered into Manager, at least one bank account or cash account must be created. Then, within the Bank Accounts or Cash Accounts tab, click New Bank Transaction or New Cash Transaction and select Receive money:
Complete the cash receipt. By default, today’s
Date and cleared transaction
Status are selected. These entries may be edited. Choose a
Bank account or
Cash account. The
Payer field can be used to enter the customer’s name, the receipt could be made out to Cash, or the field can be left blank, according to local custom or business policy. Line items can be entered either semi-automatically, by selecting inventory or non-inventory items, or manually. Applicable tax codes can be selected:
Click Create to complete the transaction. Any necessary adjustments will be posted to inventory accounts.
To view the receipt, go to either the Bank Accounts or Cash Accounts tab, depending on which type of account was used to receive the money. Locate the transaction and click View:
The receipt can be given to the customer as evidence of the sale: