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Create a receivable account for delivery food. Then on the daily sales receipt debit the A/R delivery amount for the day. 3-7 days later debit your deposit amount and fees and credit your a/r delivery account to clear it out.

@@hss9774 And what about cash deposits? I made a separate account called cash and then just debited cash and credited sales for any cash deposits. Is that how you are doing it as well?

Just print a daily sales report from clover and manually enter it.

Hi Kevin, Glad you liked the video! There are a couple of POS systems that integrate with Quickbooks Online, so you can try to set up their integration. Otherwise, you would need to use Zapier or another product to automate if possible. Thanks! Casey

Hi Andres, I'd be happy to help you with this, but it'll require a consultation and some more work as it's a more complicated entry. Feel free to reach out to me via email (cmoss@caseymosstax.com) and I can give you some more information about this. Thanks!

Hi Jacki, Yes, this could be used as a monthly or weekly process as well. However, instead of the deposit going into the bank account, you'll want it to go into an "undeposited funds" account or a clearing account of some kind. Since the credit card deposits will still be coming in on a daily basis, you'll want some way to verify that the amount deposited matches your sales receipt entry.

@@caseymosstaxandaccountingl1685 would I then JE to clear the deposit from clearing account. I can’t see how this flows in QBO? Would each daily sales deposit/payment be listed in the “monthly” sales receipt separately to be able to match it from the bank feed for clearing account to balance to zero each month?

@@jackikiss1362 You would then code each deposit hitting the bank account to the clearing account to offset the amount from your sales entry. And no, if you are entering it monthly or weekly, it will not match your bank feed. That's why I generally recommend entering this daily so you have clear matches of deposits to sales receipt entries.

Hi Mohaned, For these types of payments, you'll want to set up a separate product called "Grubhub" or something similar. The corresponding general ledger account associated with this product should be "undeposited funds." Then, when the payment comes in, you'll choose New+Bank Deposit to enter the deposit into the bank. Hope this helps!

Hi Gi. A positive number on a sales receipt represents a credit entry to the corresponding account associated with the product/service listed. When we record daily sales, part of our sales are received in cash. To record this, we need a debit to our cash on hand account because our cash balance is increasing. Therefore, to get a debit entry on a sales receipt, a negative entry is required. Hope this helps!

@@caseymosstaxandaccountingl1685 Hmmm...I've used other accounting packages before like MSFT Dynamics GP and in the Distributions window there is 2 columns, one for Dr. and one for Cr. So for a sale you Debit AR or Cash and Cr. Sales. Both values are positive amounts and the totals at the bottom of each column have to match. There is no negative values. This must be a QB thing and it's confusing. A negative value being applied to my Cash balance would reduce it, not increase it. I'm confused as to how this negative value doesn't reduce my cash balance?

Hi Townley. When this happens, there is a button next to the sales tax that says "see the math." You can click this and override the calculated amount. I'll only do this when the sales tax collected is off by a few pennies from rounding. That way your sales tax reports from QBO will match your POS sales tax reports. Let me know if you have any other questions about this.

@@caseymosstaxandaccountingl1685 Thank you. I am not sure if I am doing this correctly or not, but I don't see anything on the PNL side after I do this. Do I have to separate doing something to have these appear as entries on the PNL side? Basically I want to record all our sales daily and then match them to the account activity from the bank account so that everything is completely reconciled. Hope that makes sense. Thanks in advance for your help!

@@townleychattman5915 If you are not seeing any of this activity coming through on your profit and loss statement, you may need to make sure you have the correct categories selected for each product and service. Generally, if you have them set up correctly, it will post to the correct accounts and be visible on your profit and loss statement. In order to match to your bank feed, you need to make sure that the total deposit amount matches your total credit card deposits from your POS system. This can be complex to set up, so feel free to contact me for a consultation if you need assistance: caseymosstax.com/contact-me/