Quickbooks Sales Cycle

• In this Quickbooks, if the customer wants to pay the payments after the goods received, then the sales cycle flow is Sales Estimate, Invoice, Receive Payments.
• If the customer wants to pay the payments at the time of sale, then you can directly go with the Sales Receipt.
• This system doesn't have sale order creation in online version, this option will have only for premium members and for desktop versions.

Sales Estimate:

• The Estimate is like quotation, this can be sent to the customer with the details of products and their price details.
• Until the customer accepted or rejected, it can be in pending state only.  

• If the customer is accepted this, then it can be used as a sale order.
• When it is accepted you can change the pending state to accepted state, with the details of accepted by and date.  

Invoice:

• You can convert the Sales Estimate to the invoice by clicking the copy to invoice button at the top right corner of estimate page.
• After the goods delivered to the customer you generate the invoice.

Receive Payments:

• When the customer is cleared the payments to you, you generate this receive payments.
• It can be generated by clicking the receive payments button on the top right corner of invoice.

Sales Receipt:

• You use a Sales Receipt when you receive a full payment at the time sale by customer.
•  This contains the full payments details like shown below.

Credit Note:

• If the customer made the returns after payment, then you generate the credit note.
• This contains the details of returned products.

Refund Receipt:

• It is the receipt for the credit note that means, for customer returned products.

Advantages:

• The Sales Receipt is the only advantage of this Quickbooks system.

Disadvantages:

• No proper procedure is followed and this doesn't have separate sections like sales cycle, purchases cycle etc.
• No pick ticket, packing list.