Question asked by Michael Joseph Wdowiak Beijer 8 years ago
When creating a customer, under "default account code", what is the difference between "revenue" and "labor revenue"?
I'm a freelance translator, which should I choose for my translation work?
Michael
PS: why the US spelling of "labor"?
Hi Michael,
Apologies that no one got back to you sooner.
You can use whichever account you feel is more appropriate, or whichever your accountant advises.
The primary intention is to allow you to split up your revenue as you see fit. You can also create additional accounts for this purpose e.g. Translation revenue.
Many customers without special requirements just use the Revenue account for all of their revenue transactions.
I hope this helps.
All the best.
Best answerThanks Richard,
I understand now. I edited the "Revenue" account code to read "Translation revenue".
Regards,
Michael
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