please let me explain, and take the time to understand, it may be helpful to yeshivos that are interested , that their quickbooks show the real story.
1. The first rule of accounting is that revenue is recorded at the time of the sale (or in the case of Mosdos - when billed) not when you receive payment from the costumer, billing and payments are recorded between the accounts receivable and Bank (cash) account, revenue account is not touched. ( as i wrote before)
2. i am not looking to see in quick-books the invoices, rather to see; A. the full amount billed in the income account , B. the outstanding amount should appear in the accounts receivable account, C. when payment is made the accounts receivable should be decreased , and the cash account should be increased.
This way quickbooks are is sync with the real company.
thank you, for taking the time to understand my request.
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