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1:22
YouTube
Accounting Stuff
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): 👉 Dr Accounts Receivable $500 👉 Cr Revenue $500 Then when payment arrives: 👉 Dr Cash $500 👉 Cr Accounts Receivable $500 Under cash accounting, the ...
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What Information Goes on an Invoice? In this video, I break down the key components found on most invoices. From the seller's details and customer information to line items, taxes and payment instructions. Whether you're new to invoicing or just need a refresher, this quick overview will help you understand exactly what you're looking at (and what to include when creating your own). What we cover: 👉 Seller and customer details 👉 Invoice number, date, due date and payment terms 👉 Line items: d
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