First, it is helpful to understand exactly what a delivery invoice does. Pushing a delivery invoice to QuickBooks
- Adjusts inventory
- Recognizes revenue
- Relieves (uses) customer deposits
- Calculates sales tax liability
So the answer to the question becomes, “How often do you want your financial statements to reflect the business you conduct?” It would be best if you processed delivery invoices as frequently as you have to pay sales tax at a bare minimum. If you are a monthly taxpayer, you should process monthly delivery invoices for all sales orders. If you only pay quarterly sales tax, you can process your delivery invoices every quarter. But, as we stated, this is the bare minimum.
Adjusting inventory, recognizing revenue, and relieving customer deposits affect the financial statements of your company. So to have more accurate statements, you will likely want these details entered on a more frequent basis. And these adjustments may differ based on the quantity of business your company generates.
iPoint best practice is to create delivery invoices once a week. Friday afternoon is a great time. That way, you capture all of the work that has been completed during the week. Make it part of your weekly routine. Or maybe, you’d rather process delivery invoices first thing Monday morning so that you capture work your staff did over the weekend. Either way, make a regularly scheduled time to generate delivery invoices for all your sales orders.
And we’ve made it easy for you by creating a button to generate all delivery invoices for all sales orders where product has been delivered. 