Sales linked accounts

Here is a list of the linked accounts that are used for sales transactions, along with information about where the linked accounts will be used:

Asset Account for Tracking Receivables

The amounts your customers owe your business for purchases they've made on account are considered assets. This account summarizes all the money owed to you by your customers; it appears on your balance sheet and other financial reports. This account will be debited (increased) whenever you enter sales on account using the Sales window. This account will be credited (decreased) whenever you enter payments from customers using the Receive Payments window.

Checking Account for Customer Receipts

This account is used to track the amounts paid to you by your customers. Depending upon your choices in the Preferences window, this account may appear as a default entry for the transactions you enter in the Receive Payments window. If you like, you can choose another checking account, or you can indicate that the funds aren't ready to be deposited yet. When you enter a payment from a customer, this account (or the checking account you select instead of it) will be debited by the amount of the transaction, and your linked Asset Account for Tracking Receivables will be credited. In effect, the checking account will be increased and the accounts receivable account will be decreased.

The account you select here must have been assigned checking or credit card privileges in the Edit Accounts window.

Income Account for Freight

This account is used to track the freight amounts you enter for the sales you make using the Sales window. This account enables you to see how much of your gross sales amount is actually goods or services, and how much is payment for shipping. This account appears on the Trial Balance, the Profit and Loss Statement and other reports.

This account is used only if you marked the "I collect freight on sales" option in the Easy Setup Assistant or the Sales Linked Accounts window. If you don't ship goods to your customers, you can skip this account.

Step by step
To change Sales linked accounts