I’m entering the data for my partner’s first 6 months of trading and I’m unsure of the best way to input the sales. She has a combination of cash and card sales so I had created income accounts for both which I can then use to allocate the payments into the bank. However she has pointed out to me that she wants to know what day it was taken, not banked. The card sales are marked as such anyway but the cash sales at present are only identified by the banking date.
The way I see it I can either change the dates of the transactions to the sales date and make the ‘cleared’ date the date it appeared in the bank or else I can create new transactions for the actual sales date going from ‘cash sales’ to ‘cash register’ and then edit the exisiting bank transactions to be from ‘cash register’ to the bank.
The only complaint my partner has with these methods is that they give two figures for each date (cash and card sales) and I wonder is there a more elegant way of doing this that would give me a single ‘sales’ figure for each trading day which could then be broken down into cash and card when it’s banked. I don’t see any way of allocating income accounts to transfers between cash and bank accounts. Should I simply use a descriptor to id the cash and card sales rather than an actual income account?
Apologies if my question demonstrates a degree of ignorance. I am trying to figure out as much as I can with the guides and accountingcoach but this issue has me perplexed.