How do I record income that hasn’t occurred due to sales?
To record income that hasn’t occurred due to sales, you have to first create an account to track the income. Here’s how:
- Go to Accountant on the left sidebar and select Chart of Accounts.
- Click + New Account in the top right corner of the page.
- On the Create Account page:
- Enter a suitable Account Name.
- Select Income as the account type from the Account Type dropdown.
- Enter the Account Code and provide a Description for the account if required.
- Click Save.
Now, to record the income:
- Go to Banking on the left sidebar.
- Select the bank account in which you want to record the income.
- Click Add Transaction.
- Choose Other Income under Money In.
- Select the new account you created as the From Account and fill in the other required details.
- Click Save.