About Credit Notes
About Credit Notes
We issue invoices in advance of monthly services. October 1st invoices went out, for example, on September 15th. We often receive payment in advance of the date of the invoice.
In Books it says, "You can issue a credit note any time you owe your customer some money or when you receive an advance payment."
But it appears that I need to debit (decrease) the sales account just because I've received early payment.
When I receive a check and apply it to an open invoice the appropriate cash account is debited and s the customer's accounts receivable is credited. There should be no change in the sales account!
Can I record advance payment of an invoice without affecting my sales account?