Retail Quickbooks
Retail Quickbooks
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In accounting, how do I handle shipping charges collected?
I have a small retail business, and I just started selling online. I use quickbooks for my accounting. I am now collecting shipping. How do I post it? Would it be additional income that would then be used for a postage expense or is it not considered income because it is strictly for shipping?
I presume what you meant was that your customers pay you for the shipping you incurred in sending the goods to them. If the shipping is included in your sales invoice, you can leave it in sales a/c. The shipping charges you incurred will appear as part of your operating expenses. If however you recover the shipping separately from the sale invoice, you can either take it to "revenue - others" or credit your shipping expense a/c to bring the balance down. If you recover exactly what you incur, the shipping charges a/c will end up with a zero balance. If you mark-up your shipping, you will have a credit balance in that a/c which you will have to take to misc income in the end. If you under-recover the charges, you can just leave the shipping charges a/c as it is, with a debit balance.
POS Quickbooks Can Do it All for your Business
Customers don’t often know what goes into having a smooth and seamless transaction at the cash register. They will however expect that this is just how things should go. If you want your business to provide easy transactions for your customers then POS Quickbooks would be the correct solution to help you get the job done. Not only will your customers enjoy the ease of their transactions but as a business you can take advantage of the many additional functions of POS Quickbooks. It can help you to manage inventory, provide simple and quick reporting and can even assist in the management of employees.
One thing that your point of sale software must be able to handle is any kind of transaction that your customers might want to do. POS Quickbooks can handle cash transactions for you, as well as credit card and debit card transactions. It has numerous other functions such as the ability to create gift cards, and redeem them as well. You can easily set up reward programs for certain customers and easily maintain customer information in the system.
If you’re planning to have a sale, don’t worry. POS Quickbooks has the versatility to let you change prices for group of items very easily. The system can read bar codes of available products when they are brought to the register and you can be confident that the right price comes up and is quoted to your customers.
POS Quickbooks can also help to manage your business in other ways; you can track and record employee hours in the system and view them easily with a few simple clicks. It does all of this in real time so you can know where you stand at any given point. If you have employees that are on commission, POS Quickbooks can handle the information and do all of the calculations for you. When it comes to doing payroll, this can be a painful process but the software can make it as easy as possible.
When you are running a retail business, you also need a good inventory management system. POS Quickbooks does this as well. Whenever an item has been sold the inventory is automatically and immediately updated so that you can get numbers right away regarding how much inventory you have of a certain product. POS Quickbooks can even store photos of inventory items so that your employees are never in the dark about the identity of a product and there will be less confusion and better customer service.
POS Quickbooks integrates easily with other Quickbooks Software so you can tailor the system to meet your exact business needs. This way, the software can handle a number of different sizes of business and it has the ability to grow with you.
Once you start using POS Quickbooks as your chosen point of sale software, you’ll wonder how you ever managed to get by without it. From reporting to inventory, employee management to transactions you will have all of your bases covered. You also enjoy the comfort of knowing exactly where your business stands at any point in time when you pull up one of your customized reports.
About the Author
POS Quickbooks is the best point of sale software platform out on the market for the medium-sized business that wants to compete with the big players.
3.3-1 Using QuickBooks in a Retail Sales Environment
