I’ve searched the forum a bit, but can’t exactly find anything on this. I’m new to Manager and bookeeping in general.
I am a mobile mechanical service, so I mainly sell my Labour. I have been trying to set this up as a Billable Time thing. So I enter my Labour charge under Billable Time and then tick the boxes to make a new Sales Invoice. It copies over all the goodies and everything’s fine.
Once I’ve gone back to Summary, I have received payment and hit the “receive money”, entered my incoming payment and that’s fine. When I check my “Income” box, there’s two entries - Billable Time - Invoiced and Sales. As I’ve entered a few other charges on the Sales (from the final invoice sent to the customer) they don’t match.
Am I using Billable Time correctly? Should I be using Sales or Accounts Receivable for incoming paid invoices.
I’ve had to use my personal card while I was waiting for my business card to arrive. I collected the receipts and entered them into the Journal to try and record them as business expenses. They’ve gone to the correct accounts (i.e., my custom Tools and Equipment Expenses account) and show up there, but the Journal entry for all those things shows in my Suspense. This may be a nuance of double entry accounting. Where can I balance out these expenses, or am I incorrectly using the Journal?
Thanks anyone for your repsonse!