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-   -   Where do you record the invoice (https://www.askmehelpdesk.com/showthread.php?t=490057)

  • Jul 20, 2010, 05:35 AM
    jbi
    Where do you record the invoice
    Where do you record the invoice
  • Jul 23, 2010, 07:36 AM
    pready

    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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