How can I record daily sales and inventory sales?

This is what I currently do on a daily basis to record my daily sales and all expenses. Please tell me if I am doing it right or how to fix it if it is wrong. 

Daily Sales

+Sales Receipt                                                                                                         

Choose Customer-Daily Sales                                                                              

Product Service- Sales Taxable, enter amount minus sales tax                          

Product Service- Sales Non-Taxable, enter amount minus Sales tax & Sales Taxable                                                                                                               

Save and Close

Inventory Expenses


Choose Payee- Whoever I bought the inventory from                                         

Account- Inventory, plus short description of what was purchased                         

Enter amount                                                                                                       

Save and Close

My question then I guess is, how do I adjust my inventory assets? And I just started with QuickBooks, please try to simplify your answers. I'm so overwhelmed as it is.


Thanks for visiting us here in the Community, elmoregeneral.

I want to make sure this is properly addressed for you.

Yes, you're recording your daily sales and expenses correctly. And to answer your second question, adjusting inventory assets is only available in QuickBooks Online Plus. You can refer to this article for more information:

If you are using QuickBooks Online Essentials or Simple Start, you can upgrade your QBO version by simply following these steps:

  1. Click the Gear icon.
  2. Choose Account and Settings under You Company.
  3. Select Billings and Subscriptions from the left menu
  4. Click Upgrade on the left menu or Upgrade within the Accounting section.
  5. You will be presented with options for upgrading, with features and pricing.
  6. Click Upgrade for the product you want.
  7. If prompted, enter payment information.
  8. Confirm the upgrade and billing then click Confirm Upgrade.

That should do it! You're always welcome to come back if you need anything else. I'll be here to help.

Was this answer helpful? Yes No
IntuitFritz , Community Support Specialist
Employee SuperUser
1 additional answer

No answers have been posted

More Actions

People come to QuickBooks Learn & Support for help and answers—we want to let them know that we're here to listen and share our knowledge. We do that with the style and format of our responses. Here are five guidelines:

  1. Keep it conversational. When answering questions, write like you speak. Imagine you're explaining something to a trusted friend, using simple, everyday language. Avoid jargon and technical terms when possible. When no other word will do, explain technical terms in plain English.
  2. Be clear and state the answer right up front. Ask yourself what specific information the person really needs and then provide it. Stick to the topic and avoid unnecessary details. Break information down into a numbered or bulleted list and highlight the most important details in bold.
  3. Be concise. Aim for no more than two short sentences in a paragraph, and try to keep paragraphs to two lines. A wall of text can look intimidating and many won't read it, so break it up. It's okay to link to other resources for more details, but avoid giving answers that contain little more than a link.
  4. Be a good listener. When people post very general questions, take a second to try to understand what they're really looking for. Then, provide a response that guides them to the best possible outcome.
  5. Be encouraging and positive. Look for ways to eliminate uncertainty by anticipating people's concerns. Make it apparent that we really like helping them achieve positive outcomes.

Select a file to attach:

Qb community
Looking for advice from other business owners?

Visit our QuickBooks Community site.