Available in Sage 50 Premium Accounting and higher.
G/L Income Account for Activity or Charge Items
Select the appropriate income account or category where amounts for this item will be placed when you invoice the Time or Expense ticket in Sales/Invoicing.
The default account for activity and charge items is the account set up in Inventory Item Defaults. You can change the default if necessary.
More Detail
This account will be credited when you apply Time or Expense tickets in Sales/Invoicing. The offsetting debit account will be Accounts Receivable. Cost of sales is not affected when applying time and expense ticket items to a sales invoice.
Note: Entering and saving time or expense tickets does not post transactions to the general ledger.
Examples of income accounts used for activity items
- Contract Development Income
- Research Income
- Delivery Service Income
- Legal Fees Income
- Graphic Design Income
- Labor Income
- Bookkeeping Income
- Research Income
- Delivery Service Income
- Legal Fees Income
- Graphic Design Income
- Labor Income
- Bookkeeping Income
Examples of income accounts used for charge items
- Billed Telephone Income
- Billed Fax and Copy Income
- Billed Supplies Income
- Billed Travel Income
- Billed Permit and License Income
- Billed Court Fees Income
- Billed Parking Fees Income