I am new to this and confused by Manager’s summary under assets which shows both Account’s receivable and Credit account amount’s. The credit account seems to accumulate all customer invoices and shows a negative amount, while the Account’s receivable shows a positive amount (which seems correct to me as that is an asset).
My Work flow is as follows:
Generate customer invoice -> Allocate payment (From Bank Import) to Account’s receivable.
Is this correct? It appears it is as the customer invoice shows as paid but why is the same amount being listed (accumulated) under the credit account?