Entering delayed cash payments

[ischgl99]

I was setting the cash accounts up based on this post as well as a few others that said the same thing.

Cash orders and cash sales

It makes absolutely no difference if you are buying your Inventory for cash or credit, the Inventory Items tab works in exactly the same way. When you set up your Inventory you can also set your cost and sales values. No, if you want to record your sales per item you can either list them in a book and then do a Cash on Hand - Receive Money for the daily total or list them individually in the Cash on Hand - Receive Money entry. If using the book you would record your cash and credit card sales …

I use the Receipts and Payments section and receive cash and checks into my Sales - Cash account, the item number enters the sale into an income account of Sales - Sports for example. I probably want to change the account names so it doesn’t get confusing later, but the Sales - Cash account is a form of payment, and the Sales - Sports is an income account.

I was thinking of Smugmug as a form of credit card payment that takes a long time to get paid rather a bank account. I will set it up as a bank account. Thanks for your help!