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How to record sales after creating a payment from an invoice?
For example, if you have a contractual term with a client, you receive a yearly amount in advance, which you prorate to 12 months and record the sales.
The journal entries are recorded as follows
1. accounts receivable / deferred revenue → [accounts receivable accrual
2. deposits / accounts receivable → [accounts receivable collected
3. deferred revenue / sales → [sales recorded
1 is invoice
2 can be done with payment, but
What should I do for 3?
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