In Quickbooks Online, there are actually two types of sales forms: the invoice and the sales receipt. Someone once asked me, “what’s the difference?”

The main difference between and invoice and the sales receipt is the timing of the recognition (recording) of income.

An invoice is more appropriate when you charge your customer for a sale of a product or completion of service, but make payment due at a later date. The income will be recorded at the date of the invoice (the date you charged for the sale) When you finally receive the payment, it will be recorded as a separate transaction.

The sales receipt, on the other hand, is better for recording a sale for which payment is due immediately. The sale and the payment will be recorded at the same time, on the same form. 

For an example of when to use each form, as well as how to record them in Quickbooks Online, check out this video: