---
title: Academy 7. Selling
description: "Foundation, lesson 7: quote to order to invoice to payment, sales tax, undeposited funds, NSF and refunds, recurring invoices."
url: "https://theasst.com/docs/academy-7-selling/"
updated: "2026-10-30"
category: Academy
---

# Academy 7. Selling

*TBA Foundation · Lesson 7 of 9 · about 3 hours*

## After this lesson you can

- Take a job from quote to payment.
- Say what the books record at each step.
- Handle a payment that is too large, a mistake, and a bounced check.
- Explain how sales tax is decided and how recurring invoices work.

## Why it matters

This is the main loop of most businesses: win the work, do it, bill it, get paid. Doing it correctly in TBA means your receivables, revenue and tax are right without extra effort.

## Read

- [Sales/Service Overview](https://theasst.com/docs/sales-service-overview/)
- [Sales/Service articles](https://theasst.com/docs-category/sales-service/) (quotes, orders, invoices, payments, recurring invoices)
- [Credit Memos](https://theasst.com/docs/credit-memos/)

## The big picture

A **quote** is an offer; when accepted it becomes a **sales/service order**, which becomes an **invoice**, which a **payment** settles. Saving an invoice records a *receivable* and the *revenue* (plus any sales tax owed). A payment is applied to one or more invoices; the part not applied stays as a **credit** for the client. Received payments sit in **Undeposited Funds** until you make a deposit. To correct an invoice for the wrong client you **void** it and enter a new one. If a check bounces, record it as **NSF** so the invoice is owing again. **Sales tax** comes from the tax codes involved and how the goods are delivered, and an order can override it. **Recurring invoices** are created for you on a schedule and can charge the client automatically. Orders and invoices can be emailed from their pages.

## Try it

1. In a demo company, create a quote, turn it into an order, invoice it, and apply a payment.
2. Apply an overpayment and find the leftover credit.
3. Void an invoice and look at the ledger.

## Check yourself

Can you say what the books record when an invoice is saved, and what happens to the part of a payment that is not applied? A practice quiz and certification exams are planned for a later release.