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How to Account for Invoices
Sending an invoice changes your books, but how depends on your accounting method. Under accrual accounting, revenue is recorded when it's earned (usually when you issue the invoice): 馃憠 Dr Accounts Receivable $500 馃憠 Cr Revenue $500 Then when payment arrives: 馃憠 Dr Cash $500 馃憠 Cr Accounts Receivable $500 Under cash accounting, the ...
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