Suspense Account

I’m having an issue where when ever I mark an invoice as paid my “suspense” account will go up by that amount of money.

Example: I charge my customer $40 for a service, and charge it under the “sales” account. When I am paid I then mark the billed as paid. Naturally this credits account receivable by $40, however, instead of $40 appear in a cash account or anywhere else it is put in the “suspense” account.

This is driving me crazy, I do not have to time go back and set up a journal entry that debits “cash” and credits “suspense” every time I make a sale.

I did notice there is a drop down menu titled “Received In”, however, there are no accounts listed there and I can not type any in.

Help is greatly appreciated and I apologize if I am making some stupid mistake…

Also off topic, does anyone know if it is possible to import a customer list with addresses,emails, phone numbers, etc from Excel?

Did you set up a bank account for the money to be received into? If you didn’t create any bank accounts, Received in field will not show any options.

Apologies. I assumed that since I did not have an actual business bank account (I am just using my personal account) that is was unnecessary… I really wish the guide had more in depth information regarding the program, I feel like I am forced to learn most things by practice and fooling around. None the less I still do love this program, being a college student the idea of dumping $250 for Quickbooks seemed excessive.

Seems easy enough. Just at the beginning of every year start the business off with a 0$ balance and then add and subtract as necessary. I do like how it is possible to have a negative balance in the bank account, that was a worry of mine.

User guide has been written only a few days ago so it’s still very rough but it is ongoing process and we keep improving it every day.

Anyway, if you don’t have business bank account, don’t use Bank Accounts tab. I’ll add some mechanism to receive payments from customers directly into your Drawings equity account which is exactly what is happening here.

In the meantime, the only way to record transaction like this is through journal entry where you credit Accounts receivable and debit Drawings account.

If you don’t have Drawings account, you can create it under Settings -> Chart of Accounts