Curious about Accts Receivable

Posted by Max Moor on September 29, 2008, 4:09 pm

Please log in for more thread options

Hi All,

I'm wondering about accounts receivable (AR) in QuickBooks 2005.
Normally, when I sell a product, I just go into my cash account and debit it
for the amount. QuickBooks credits the sales account because I select that
in the account field of the register.

When a portion of the sale is AR, I thought I would enter that in the
AR register. I don't see where I set the account to the appropriate sales
account, though. How do I tell it what revenue account to credit?

Regards,
Max

Posted by Laura on September 29, 2008, 7:58 pm

Please log in for more thread options

> Hi All,

> I'm wondering about accounts receivable (AR) in QuickBooks 2005.

> Normally, when I sell a product, I just go into my cash account and debit

> it

> for the amount. QuickBooks credits the sales account because I select

> that

> in the account field of the register.

> When a portion of the sale is AR, I thought I would enter that in the

> AR register. I don't see where I set the account to the appropriate sales

> account, though. How do I tell it what revenue account to credit?

Have you set up Items? that's what drives Invoices and A/R entries to the
correct income account.

Posted by Max Moor on September 30, 2008, 12:13 am

Please log in for more thread options

>> Hi All,

>> I'm wondering about accounts receivable (AR) in QuickBooks 2005.

>> Normally, when I sell a product, I just go into my cash account and

>> debit it

>> for the amount. QuickBooks credits the sales account because I select

>> that

>> in the account field of the register.

>> When a portion of the sale is AR, I thought I would enter that in

>> the

>> AR register. I don't see where I set the account to the appropriate

>> sales account, though. How do I tell it what revenue account to

>> credit?

> Have you set up Items? that's what drives Invoices and A/R entries to

> the correct income account.

Ah-haaa! Thank you Laura. That's just the thing I was looking for.

Regards,
Max

Posted by Haskel LaPort on September 30, 2008, 8:23 am

Please log in for more thread options

>>> Hi All,

>>>

>>> I'm wondering about accounts receivable (AR) in QuickBooks 2005.

>>> Normally, when I sell a product, I just go into my cash account and

>>> debit it

>>> for the amount. QuickBooks credits the sales account because I select

>>> that

>>> in the account field of the register.

>>>

>>> When a portion of the sale is AR, I thought I would enter that in

>>> the

>>> AR register. I don't see where I set the account to the appropriate

>>> sales account, though. How do I tell it what revenue account to

>>> credit?

>> Have you set up Items? that's what drives Invoices and A/R entries to

>> the correct income account.

> Ah-haaa! Thank you Laura. That's just the thing I was looking for.

The fact that you are using QB 2005 and asking this question now as we near
the year 2009 raises a flag in my mind that you should be discussing this
matter with your accountant.

> Regards,

> Max