Updated: Apr 18, 2022
Getting paid is one of the most important parts of a business. If your not making money, your business will not last long.
Navigating the different payment options can be tricky. Within Quickbooks Online and other bookkeeping software there are two main sales options: invoices and sales receipts.
Invoices are sent to clients to be paid either when received or at a due date in the future.
Sales receipts are sent after payment is collected.
Most small businesses now days, require payment before services or products are rendered. This is usually best practice so you don't get suck unable to pay for your own business expenses.
If you do decide to allow for future payments, make sure to require a deposit and have very clear terms and conductions.
Many small businesses will use payment software like paypal or square. Those are great payment software but they don't keep track of business expenses so keep in mind, you will need another software for bookkeeping.
What to learn more? Download this month's free download, Ways to Get Paid PDF.