Chapter 4: Recording Income for Retail Businesses
The main thing that differentiates retail from other business models is when payment is received. This is usually at the point of sale – when goods or services have been provided. 30-day payment terms, for example, are not used.
In this chapter, you will learn how to optimize the settings and features within QuickBooks Online to help save time on a lot of unnecessary data entry.
When setting up QuickBooks Online for a retail business, there are a few things to consider that can specifically relate to a retail-based business model:
- Inventory (stock) requirements
- The sales environment (shop/online/market)
- How sales are recorded
- Accepted payment methods
- The systems that may currently be in place ...
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