Quickbooks Sales Cycle

In Quickbooks the process of sales cycle creation starts from the estimator which is similar to quotations and then to the receive payments.

• The sales process is completely known when you buy the premium version of the quickbooks ERP, only then you can create the option of sales order.
• In the demo version or in online version there is no sales order creation, it directly goes from the estimator section to the invoice creation.
• The actual sales cycle of the quickbboks in the premium version looks like in the figure below.

The Sales cycle of Quickbooks online version :

It doesn't have any sales order option in the transactions. We start from estimator till the payments.

1. Estimate :

• It is the first step of the sales process where we take down the details of the customers along with the product details.
• It will be in the pending state until change in the status.

• We can change the status of the estimate from the pending to accepted or closed and then when you save it we can create the invoice directly.

2. Invoice :

• When you accept the estimate we can generate the invoice.
• In the invoice we fill in the details of the products with price and discount offered etc.
• When you save the invoice we can directly generate the receive payment.

3. Receive Payment :

• Now when the payment is received from the customer it updated here.
• Where we note down the amount that has been received for the invoice number.

4. Credit note :

• The credit note is generated only when the customer has returned any products.
• We enter the details of the quantity and the amount that is to be refunded is displayed.

5. Refund :

• In a transaction we refund the amount for the products that are returned by the customer.

Advantages :

• The link in the transaction can be understood easily.
• Simple in design with only main required fields.

Disadvantages :

• Progress of the transaction cannot be known.
• Billing and shipping address cannot be added differently.