Entering Daily Sales for a Boutique
Flopbot
Member Posts: 27
Greetings,
We have a small Boutique and use Square POS. Sales from the boutique are automatically deposited twice a week (Friday's Sales, Saturday's Sales) and whenever I get around to it, I do a third deposit of any random sales that involved cash & checks.
I'm brand new to Wave Accounting and the idea of business accounting as a whole. I'm not an accountant!
My question right now is how do I categorize the deposits when they automatically show up in Wave?
Can I simply mark them using the Sales Income Account (Chart of Accounts > Income > Sales)? Or maybe the Product Sales Income Account...I'm not sure of the difference?
Notes:
- I'm not currently using Wave to track Inventory. That is likely a long ways off.
- At this time, I'm not doing double entry accounting. That still scares me! Though eventually I want to get there.
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