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Accounts Recievable
What is the transaction track of the Accounts Recievable?
Eg: I send out an invoice to a client for $1200.00 What is the path that this fallow as it goes from here to final payment and Books closed at the end of the year?
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Typically the customer will send payment and then you'll record a Payment transaction and select the invoice it applies to. Then you'll deposit the payment into your bank account, perhaps with other payments.
Year end / closing books doesn't come into play in this process, which is perpetual.