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.
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.