For each sale you make either a sales invoice or sales receipt should be created. A sales invoice or sales receipt tracks your income and HST so this is vital information that affects your financial statements.
You do not need to create both, it’s one or the other.
A sales invoice is created when payment is expected in the near future.
A sales receipt is created when you received immediate payment upon making the sale.
For example, if you are a vendor at an event selling your products, you’ll need to issue a sales receipt for every sale as the customer paid you on the spot. If you sell a service, then a sales invoice would be more appropriate as the client did not pay you immediately but at a future date (net terms).
Not using QuickBooks Online? We can help get you set up so you can start sending professional looking invoices and receipts.