Originally posted by VanHost We use MB and Simply Accounting (pretty much the same thing, just a different piece of accounting software).
In Simply Accounting, we have a customer setup as follows:
Whenever an invoice report comes through, we simply enter it in as a sale to "MB Sales" and be done with it.
It has worked quite well for us thus far.
This is the way I have been told to do it as well, but I can't see how you all keep yours books up to date. If you enter all your sales into a generic sales account how do you reconcile your income/bank accounts?
If you receive payments by CC, PayPal, Check, etc how do you reconcile where the payments came from if you are only entering a general sales journal entry.
Also if you don't do double entry how do you seperate out where your money is coming from? I like to know that $100.00 came from domain sales $200.00 came from hosting etc.
I am very interested to hear comments on this, maybe I am just trying to hard to keep track of things.
So far the only way that I can find to keep track of our books correctly is to enter every sale/payment directly into Quickbooks or whatever accounting program you choose.
I have already tried to use Quickbooks with Mbill and no luck there. I'm currently using Excel, and that's it. I know how much we make per month, year, etc.. from each client, for each domain, add-on, etc..
It's a pain to setup at first, but you really know what's going on. After that, its just a matter of keeping it up to date and not being lazy about it.
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