Sorry if this is a basic question…i am a little confused. I have worked out how to create my items, create customers and invoice them.
Then when i go to apply the payment…this is where i am getting very confused.
I view the invoice to be paid.
go down the bottom to receive payment.
Now…which account should it be? Accounts receivable or sales?
if i select accounts receivable then it says the invoice is paid in full…all good. But the amount does not show up on my summary screen as a sale.
if i select sales then the invoice still has a balance due…but it shows up in my summary page as a sale…which is what i want. and it is listed also under retained earnings on the summary page
is it something to do with the tab for “recieved in”…what should this be. For example if i received cash…should this be “cash” or suspense.
what is “suspense”…is this just a category that i should be setting something up?
Sorry if this is all confusing. Hope you can understand what i am saying.
I have Quickbooks knowledge but this is stumping me