Chart of accounts
Ernest
Member Posts: 1
Am new on wave and I need help in some of the accounts types under Accounts receivable and Money in transit. Thank you
0
Comments
Hey @Ernest! How can we help?
I have a question about Accounts Receivable. When I invoice a client, what does that show up under in Accounts Receivable? Let's say I'm using Shopify that connects to my Stripe account and pays out through a bank payout. Is that the Stripe account that is accounts receivable because it's being held in the payment processor? Or is it Shopify?
Or would that Stripe account be under "Money in Transit"?
Hey @Cameron! Great questions here. As soon as you have an open invoice that's expecting payment, that would be added to your Accounts Receivable. As far as which account would be considered your Money in Transit account in Wave, or Accounts Receivable, they're one in the same. If you wanted to offer a little more context around what you're seeing in your Wave account here, I'd love to break this down further.