There's so many ways to record income when using QuickBooks Online. It's so easy to do, and the method you choose depends on your bookkeeping needs. I'll explain your options in more detail below.
If you're receiving money on the spot, you can create a Sales Receipt instead of an Invoice. This type of transaction is essentially an invoice and a payment all in one. Here's how to create a Sales Receipt: Create and send a sales receipt.
Depending on advice from your accountant, you can also reflect income via a Journal Entry. Keep in mind that this won't impact any of your inventory reports or customer records. Here's how to create a Journal Entry: Create a journal entry in QuickBooks Online.
You can also ask your accountant if a Bank Deposit would work for you. This simply records income into a specific account, and similar to a Journal Entry, should be used sparingly in certain circumstances. Here's how to record a Bank Deposit: Record and make Bank Deposits in QuickBooks Online.
I hope this helps. If you have any other questions, please reach out to our tech support team.
Cheers.
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