Sales Receipt or Invoice?

Discussion in 'Business Operations' started by GreenBlade, Apr 2, 2014.

  1. GreenBlade

    GreenBlade LawnSite Member
    Posts: 205

    This may be a really stupid question, but when do you use a Sales Reciept and when do you use an invoice? I use quickbooks online and just want to know the difference between the two and when to use each.

    Last year I just used an invoice for everything. Even if they paid me on date. Does it really matter? It's just one of those things that has me curious. Would appreciate some insight! Thanks.
  2. PamlicoLawnCare

    PamlicoLawnCare LawnSite Member
    Posts: 80

    I use QuickBooks also and only use invoices.

    You typically use invoices when you send bills (invoices) to your customers. This allows you to "Receive Money" against the open invoices when you get a check from your customers.

    The "Cash Receipt" is used when you get your money at the time of service.

    It can sometimes get very confusing when using both "Invoices" and "Cash Receipts" in QB.

    I'm like you in that I only use "Invoices" eliminates a lot of confusion.
  3. Locqus

    Locqus LawnSite Senior Member
    from Detroit
    Posts: 708

    I use sales receipts when I receive payment for services on site right after performing the work. It ties payment to the service on one screen and saves me the time of creating the invoice then tieing it to the payment. I use invoices when I bill monthly and there is a delay between performing the service and getting paid.
  4. CreativeLawncareSolutions

    CreativeLawncareSolutions LawnSite Silver Member
    Posts: 2,025

    A receipt is what you get after payment is made (like you get every day of your life).

    An invoice is a bill (like you get every day of your life).

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