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    jbi's Avatar
    jbi Posts: 1, Reputation: 1
    New Member

    Jul 20, 2010, 05:35 AM
    Where do you record the invoice
    Where do you record the invoice
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member

    Jul 23, 2010, 07:36 AM

    It depends on the invoice

    If it is for something you sold, then the journal entry will be: Debit Accounts Receivable for the amount and Credit Sales for the amount

    If it is for something you bought, then: Debit an Asset account(supplies, merchandise, etc) for the amount and Credit Accounts Payable for the amount

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