Sales

Tutorials on how to effectively manage your sales, track transactions, and analyze performance.

Understanding The Sale Cycle

On Keepup Store, a sale can be categorized under various statuses, each representing a distinct stage in the sales process: Quote, Invoice, Receipt, Refunded, and Canceled. Here’s how each status functions within the cycle of a sale:

Quote

A sale can initially be recorded as a Quote. This status is used when no payment has yet been made and serves as an estimate or proposal for the customer. Importantly, a quote does not affect the total balance due from the customer as it is simply a preliminary assessment.

Invoice

If the sale is either partially paid or intended to be paid, it is classified as an Invoice. This status is crucial because it adds the amount due to the total balance that needs to be received from customers, representing a formal request for payment. Any partial payments received automatically convert a quote to an invoice.

Receipt

Once full payment is received for an invoice, its status is updated to Receipt. This status confirms that the transaction has been fully settled and there are no outstanding amounts.

Refunded

If a sale that has reached the receipt stage needs to be reversed, perhaps due to a return or customer dissatisfaction, it can be moved to Refunded. This status indicates that the amount previously recorded as received has been returned to the customer.

Canceled

At any point, if the transaction does not proceed (e.g., if a customer decides not to go forward with a quote or an invoice), the sale can be classified as Canceled. This status is used to denote that the sale has been nullified and there is no expectation of payment or delivery of goods/services.

Tutorials

💡How to Create a Quote, Invoice or Receipt💡How to Edit a Quote or an Invoice💡How to Record Payment for a Quote or an Invoice.💡How to Filter Sales💡How to Delete a Sale💡How to Print a Sale