Unearned income account
How do I create an unearned income account for a client who is receiving draws against commission?
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ckRREy3yur35qUacfA8pyY
10/21/10 7:40pm PDT
Viewed by asker 10/21/10 7:48pm PDT
Viewed by asker 10/21/10 7:48pm PDT
3 Replies
raywhite28
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Questions answered: 47569
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10/21/10 7:41pm PDT
List menu > Chart of accounts > CTRL N keys > create the account
Hope this helps. If so please mark solved, if not please ask more questions. Thanks!
10/21/10 7:43pm PDT
Do I set it up as a liability account? Right now I have the unearned income marked as income. So I should change the entries to th Unearned Income account (a liability account). Then when the commissions are posted against the draws, what kind of account do I make for that?
10/21/10 7:45pm PDT
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The solution
I'd use deferred income & create a liability account.
Hope this helps. If so please mark solved, if not please ask more questions. Thanks!
