I am not from accounting background, So i dont know much about it.
I made a Sales Invoices of 40K for a project. The client paid me 12K. I go to Sales Invoices > Click on the invoice > Receive money > Then select the account where I suppose to receive the money.
Now the project I am facing here, How can i connect the Cash on hand to income. Because whatever cash i received that is my income. So it should be in income statement, or it suppose to be happen in different way? Please let me know.