Cash Goes Up; What Goes Down?

Joined
Jan 18, 2014
Messages
1
Reaction score
0
Hello,

I’m new to accounting (just begun studying) and am trying to put in all 2013 transactions for my small business into an accounting software (Wave Accounting). The software is based on double-entry book-keeping.

I can add all the expenses into the journal – that’s not a problem.

My question however is to do with invoices that I issued and rayments I’ve received against those invoices.
I can record money coming in against an invoice as Cash going up. But on the other hand, what account would go down?

Thanks in anticipation.
 

Triest123

VIP Member
Joined
Feb 12, 2012
Messages
269
Reaction score
51
Hello,

I’m new to accounting (just begun studying) and am trying to put in all 2013 transactions for my small business into an accounting software (Wave Accounting). The software is based on double-entry book-keeping.

I can add all the expenses into the journal – that’s not a problem.

My question however is to do with invoices that I issued and rayments I’ve received against those invoices.
I can record money coming in against an invoice as Cash going up. But on the other hand, what account would go down?

Thanks in anticipation.
=> Accounts receivable
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Top