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March 29, 2021
Question

Tuition is supposed to be our main income but It's been recorded as sales and payment received is split as Account receivables

  • March 29, 2021
  • 1 reply
  • 0 views
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1 reply

JessT
Moderator
March 29, 2021

Hi there, Ocean Crest School.

 

If you've created an invoice for your sales, normally the posting account is the A/R and the income account assigned to the items. When you pay the invoice, the posting account of the payment is the A/R and an asset account. You can check that by pulling up the transaction journal of your transactions. Click More > Transaction journal.

 

Can you tell us more details about how you recorded your payments? Did you pay an invoice or did you download it from your bank account?

 

Thanks in advance.