Hi All,
I am trying to set up Time Billing to track employees' time spent by job. It is for internal info only but I want activities allocated for tracking.
I am setting up the Activities List but am unsure as to what Income Account I select. Do I create a new Income Account and a new Liability Account and journal at month-end to ensure we're not double counting or do I simply select the Income Account we use for Sales?
Appreciate your thoughts. Harriet
Hi Greeneagle1
When setting up an activity the user would be prompted to enter an Income account. This income account is used when that activity is selected for a time billing invoice. - the transactional line amounts will be coded to that account.
As with any query relating to which account I should select, we do recommend that you speak to an accounting advisor about the best account selection for your needs and reporting. However, in your case, it sounds like you are not going to use that activity on invoices (possibly only for activity slips). If so, you could in theory select any account you wish to use.
