Account Titles Associated With Items
I just discovered that "Items" can only be associated with Income and Expense accounts only. If the user wants to associate the item with another account title, the user has to do it manually which is a great hassle especially if there are a lot of entries to create.
Let's take for example: Rent Sales Invoice
Rents require "Security Deposit" which is a Liability Account and not an Income Account. If we are going to reflect this in the invoice, we still need to add Additional Account which is a hassle especially if we have a lot of invoices to create. We can't save the Item because your Item section will only prompt us with Income Accounts which is not right.
Thus, I'd like to request to expand and not limit your Item's account title to Income and Expense only but include all Chart of Accounts --- Asset, Liability, and Equity. Thanks.
I 100% agree! We need to see the amount of prepayments and deposits we have received as the services our clients pay for happen up to a year after they pay the first invoice! Unearned Revenue can only get an entry when it is done in a retainer invoice (which doesn't let you add items either).
Making an item mapped to a liability account would help with retainer invoice creation as well!