How much data entry for CC transactions?

Jul 24, 2005 2 Replies

My wife runs a skin care business and is about to add retail. I do all her bookeeping and am wondering about the data entry that will be required to track her retail sales in QuickBooks (2003). Based on the merchant services report samples I've seen, they just give you a total sale amount and a fee. In addition to that, we'll have the actual sales receipts for the products, which will include the customer name, the sales amount, tax amount, and total sale. My questions:


  1. How does the merchant account report data come together with the Sales Receipts in QB? Am I looking at a whole bunch of manual data entry to do this? Is the merchant account data entered separately, on a different form/interface than the Sales Receipt? Do I have to match up the merchant account report data with each Sales Receipt?


  1. Do I have to set up an item description for all of her products or is there a way to avoid that?



Any pointers greatly appreciated. -- tom c


I use QuickBooks merchant services and I love it. If you have the customer in front of you it is as simple as filling out the sales receipt and using a card reader just swipe the card, and save, it connects either approves or declines the card. If your doing mail order you will have to manually enter the card data.

How much data you enter into QB depends on the level of tracking you need to do. If these are strictly cash sales and there are no Receivables involved then you could enter one Receipt for each day or week. Use one customer called "credit card sales" or something like that and just enter the totals (by item sold) into QB. Attach the cc sales receipts to the summary QB sales receipt for record storing.

Make sure you request that the Merchant services post gross amounts with each sale and then 1 transaction for their fees at the end of the month. This makes reconsiling your QB totals against the Merchant report a lot easier.

If you are tracking inventory then you would need to have item descriptions for each of them with the right prices, etc.

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