Income can come from the sale of a product or service. Think about all the ways your business is generating revenue. It could be from any type of product. Are you a consultant selling your time? Do you run classes to help people build skills? Maybe you put on events? Whatever your income stream is from, create an account to track it. Income is one of three parts that make up the Income Statement Report. The other two account categories are Cost of Goods Sold and Expenses.
There are two types of Income accounts in QuickBooks: Income, Other Income.
- Income types: Services, Sales
