Paid Invoices not showing up as Income
Roxy
Member Posts: 1
I have been using Wave for a few months and all invoices that I send out and then record payment against have been automatically classified as 'Income' and show up on my Profit & Loss chart in the dashboard. Since the beginning of December, only one of my paid invoices is showing up under Income.
Under account transactions, all the payments are showing up but for some reason they are not showing up under Income.
Can anyone help?
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Comments
@Roxy,
When the invoicing feature is used, it records income when approved. Payments would not show up as income but rather a reduction of a receivable. The typical accounting software (incl Wave) debits accounts receivable and credits sales when an invoice is sent. When a payment is received, you debit cash and credit receivable. The last entry is strictly a balance sheet entry moving one asset (accounts receivable) to another asset (cash). You should be seeing all invoices created in income provided dates issued are in the range you are viewing.