question about income account when a sale occurs
John Griessen
john_g at cibolo.com
Wed Feb 23 15:10:36 EST 2005
What would the account flow look like for a prepayment for buying materials?
Does an invoice allow handling that prepayment income so as to keep it all
related to a job invoice? Can you enter the payment for an invoice before it is
complete?
John Griessen
Derek Atkins wrote:
When you buy
> inventory it's a straight shot from Checking -> Inventory. Then when
> you use inventory you account for it as inventory -> COGS. When
> you're paid it's income -> checking.
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