Proper Way To Enter A Transaction

[Derek Atkins]

Hi,

On Tue, October 22, 2013 2:49 pm, John Donnee wrote:
> Moving from a PC using another accounting system to a new iMac.
>
> I have set up all of my accounts using the auto set up feature.
>
> Here is my question.
>
> 1. I create an invoice and specify an "Income" account.
> 2. Payment comes in and I want to post it.
> 3. I go to Process Payment and find the Invoice.
> 4. I apply the payment and the payment screen wants to "Post to the
> Accounts Receivable folder". I also select my Checking Account in the
> Transfer window
> 5 I save the transaction and the money shows up in the Checking Account
> and as a negative number in the Accounts Receivable folder/account
> 6. It DOES NOT show up in my Income account where I want it to also show
> up in addition to the Checking Account.
>
>
> What am I doing wrong? I could not find an example of a transaction in the
> Help file.

You're missing the step where you POST the invoice to your A/R account. 
The Invoice itself is just metadata.  It doesn't affect your actual
Accounts until you POST it.  Then it will create the transaction from
Income -> AR.  This is usually done well before you get your Payment.

> Thanks
>
> John Donnee
>
> 910.622.8111
> 8422 Emerald Dunes Rd.
> Wilmington, NC 28411

> Please remember to CC this list on all your replies.
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-derek

-- 
       Derek Atkins                 617-623-3745
       derek at ihtfp.com             www.ihtfp.com
       Computer and Internet Security Consultant