cancel
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for 
Search instead for 
Did you mean: 
Announcements
Want an expert to help you set up your QuickBooks Online? Find out how: Click here
Ocean Crest School
Level 1
posted
‎March 29, 2021 12:38 AM
last updated ‎March 29, 2021 12:38 AM

Tuition is supposed to be our main income but It's been recorded as sales and payment received is split as Account receivables

 
Reply
1 Comment 1
JessT
Moderator
Moderator
‎March 29, 2021 01:33 AM

Tuition is supposed to be our main income but It's been recorded as sales and payment received is split as Account receivables

Hi there, Ocean Crest School.

 

If you've created an invoice for your sales, normally the posting account is the A/R and the income account assigned to the items. When you pay the invoice, the posting account of the payment is the A/R and an asset account. You can check that by pulling up the transaction journal of your transactions. Click More > Transaction journal.

 

Can you tell us more details about how you recorded your payments? Did you pay an invoice or did you download it from your bank account?

 

Thanks in advance.

Reply