moving A/R to an income account
what is the best way to move funds posted as A/R to the corresponding income account.
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bfXW5yu1Sr4yUOacwZ5xHE
02/09/12 12:28pm PST
Viewed by asker 02/09/12 3:53pm PST
Viewed by asker 02/09/12 3:53pm PST
2 Replies
02/09/12 3:45pm PST
how were these funds posted as A/R? the flow of process in QB is designed to be:
Invoices entry > Receive Payments > Make Deposits (using the popup box 'Payments to Deposit')
this process creates the receivable due, posts the payment relieving the receivable due, then moves the payment from the temporary holding account "Undeposited Funds" to the bank account.
qbteachmt
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02/09/12 3:50pm PST
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AR represents unpaid sales.
The sales on the invoice are done using Items. These Items control the flow to your accounts. These Items typically are linked to Income.
The process of Invoice is both AR and Income.
There is no further movement you need to do, as long as your items are set up correctly.
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