Invoice posted to placeholder account

[Derek Atkins]

Chris Bare <chris at ariescomputing.com> writes:

> I don't see the need for more than one AR account, but it's what my
> accountant gave me to start with:
> 
> Accounts Receivable
> Contracts Receivable
> Other Receivable
> Allowance for Doubtful accounts

Uhh.. That really does seem overkill, IMHO.  You know who owes you
money based on the customer, and you know what kind of money it is
based on your income accounts...

> I don't see the point of the distinction of the first three. I have
> seperate Income accounts if I want to know where my money comes from. As
> I get a better understanding of this I'll probably delete some of the
> unused accounts.

Agreed.  Ok.

-derek
-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
       warlord at MIT.EDU                        PGP key available