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Chapter 7. Setting Up Accounts, Inventor... > General Information About Your Compa...

General Information About Your Company’s Income

The Income Details section of the EasyStep interview asks for information about the way your company reports its income. Your answers in this section help QuickBooks further customize your company setup.

The next screen asks if you receive full payment at the time you provide a service or sell a product. A business such as a retail store will probably answer Always to this question (unless the store provides an opportunity for favored customers to open store charge accounts, in which case the appropriate choice is Sometimes). A manufacturing company that ships its finished goods, and then bills for the product, will probably answer Never when asked if full payment is received at the time of sale. The answer you give depends on your own circumstances.


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