Track uninvoiced (pre-invoiced?) expected income in Quicken
"You are right on track with your idea of setting up a separate account for invoiced income. Create a new account with the type other asset and call it ""Receivables"" (or something similar). Every time you invoice a client, enter a credit to this account with the amount of the invoice. Once the client pays and you deposit a check, enter a transfer from the ""Receivables"" account to the bank account. EDIT I overlooked that you wish to account for not-yet-invoiced income. I think that's a bad idea. It will become confusing and will give you the false sense that your financial condition is better than it really is. There are plenty of stories about businesses that have stellar sales, but fail because of lack of cash flow (the business' bills become due before it gets paid by its own customers)."
From what I understand this is what you can do : You need to raise an invoice to your brother's company in USA Your brother makes a payment into your Indian company's bank account using wire transfer straight into a bank account in your company's name. Your brother wont have to pay taxes on the money that he pays you against an invoice as it would be an expense and would not be considered as profit for tax purposes. Once you have the money you can then file your income tax returns after deducting your own expenses etc in India. I hope this helps. "You don't need to use a real stock like GLD.  You can just create a ""stock"" called something like ""1 oz Gold"" and buy and sell them as if they were shares.  It won't auto-update the price like GLD, but that's not a big deal to update manually once a month or so. I prefer to have accurate data that is correct at a particular point in time to having data that is 2-3% off, or that requires entering the ounces as 10x reality.  YMMV. This is very similar to how you track US Savings Bonds in Quicken (and might be described in the help under that topic.)" "&gt;Trust me: those ""EDI operators"" (called ""EDI Service Bureaus"" in the US) have a unique EDI map for each trading partner, because, as I said, each trading partner sends the EDI data in a completely different way.  Different ERP systems have different mappings, but there are no unlimited amount of ERP systems. If you can cover SAP, Microsoft and Oracle you can already trade EDI messages between most of the big parties. You only have to make the EDI mappings once for a system and if you have dediceted process to update them it is not hard to sell it to companies that want to have EDI processes.  We never had to do any kind of mappings our self. I guess the infra in EU is just a bit ahead of what you got in US.  &gt;EDI service Bureaus charge $$$ per message  So does it cost to scan, input data and process the invoice. For us it was easy choice as it is way faster, more reliable and also cheaper than having someone do all the data input into ERP.  &gt;Shortly, invoices from suppliers are for many different types of services handled by many different departments.  For all those we have automated rules. Freight orders are sent through a 3rd party system that matches the invoices to the freight orders. They have our freight prices and can automatically approve the invoices with the tables or reject them and ask for a credit.  Goods invoices have the PO-number. The shipping documents have the same PO-number and when a item is received with a PO number it is allocated to a invoice with the same PO number. Buyers know if the PO is not full filled automatically as the inventory will not match what was ordered.  HR invoices will go to HR department automatically and they just have to check if the invoice is correct. Postings and deparment allocations are done by automatic rules here also.  Office supplies can either be bought by PO number or with reference to who the invoice has to be sent for inspection. Inspector can change the automatic postings if there is something incorrect with the automatic posting.  The system we have has been quite flexible and there has not been much of need for customization after the initial setup.   Of course there is still some manual postings to be done, but lot less than without." &gt; So, for every trading partner, you need a unique EDI process.  You don't have EDI operators in US? Our EDI operator accepts all the regular standard and maps them to our needs so we don't have to worry about EDI message mappings.  &gt;inbound invoices, they have to be handled differently depending on what is purchased.  In our process we ideally have PO number that we send to supplier and then we match the PO number to the invoice that supplier sends to us. All the postings come automatically from the PO from ERP.  For invoices that we can't apply the PO number process we can make automatic posting rules. Some suppliers can provide row data or we can OCR it from the invoice. Mobile phone bills are great example of that. We just make a rule that number 555-555-555 has this posting and this cost center and if the sum is less then X it will be posted automatically by that rule.  I agree that it would take a lot of time if we had to do this process in terms of the suppliers and one supplier at a time. I think it depends on who is being paid for your app.  Do you have a company the is being paid?  Or is it you personally? If you have a company then that income will disappear by offsetting it through expenses to get the software developed. If they are paying you personally then you can probably still get the income to disappear by file home-office expenses. I think either way you need to talk to an accountant. If you don't want to mess with it since the amount of income is small then I would think you can file it as additional income (maybe a 1099). "The real question is what can you NOT do!  If you track all your monetary actions, you know everything about your monetary situation.  That means you have the tools to ask and answer ""what if"" questions, such as: ""If I get a 10% raise, could I take longer vacations?""  You could calculate how much you spend per day on vacation and then consider the amount of your raise and how much of it you'd need to allocate to vacations to, say, be able to take a two-week vacation instead of a one-week vacation. ""How much more would I have to earn to move to this nicer apartment?""  This may seem like a simple question, but a surprising number of people can't answer it in a reliable way, because they don't have a clear understanding of how much money they make and how much of it they can afford to spend on housing.  If you find you have lots of spare income, maybe you can move to the nicer place right away; if not, at least you can get a sense of how much more money you'd need to make it happen. ""If I started taking the bus to work, how much would I save?""  You can look at how much you spend on gas and compare that to the price of a bus pass.  By separating out categories like gas, repairs, and car insurance, you can also calculate different scenarios, like if you still kept your car but only used it for occasional trips, versus if you sold the car and used only public transportation. ""If I want to take a trip to Tahiti, what can I cut back on to save the money?""  Using your table you can pencil out scenarios like ""Suppose I stop eating out for lunch at work and just bring my lunch, how long would I have to do that to save enough to pay for a plane ticket?"" These are just a few random examples.  The general idea is that with a record of hard numbers, you can start to consider potential tradeoffs in an objective way --- that is, you can ask ""how much in category X would I have to give up to gain this thing I want in category Y?"" The real trick in making use of your data is not so much ""what"" you can do, but ""how"" exactly to do it.  You may have to become more of a spreadsheet wizard to really delve into these questions.  Also, if you have programming expertise, you can even use something like Python to do calculations that might be laborious in a spreadsheet." "Crickets here, so I'll respond with what I ended up doing. At the end of each month, I download transaction data from each of Stripe and PayPal.  For each, I do the following: So it is just six entries in Wave per month plus a little spreadsheet manipulation to determine revenues and fees.  Takes about 10 minutes to do this. I really dislike Wave's ""automatic"" integration with PayPal.  It creates a lot of entries, and it also doesn't seem reliable so it is easy for transactions to get lost." It would depend how the simulation is run.  Is all of your revenue coming through A/R?  Is none of it being paid until the end of the credit term?  Are they simulating disruptions in revenue streams?  If it's simulating daily then cash flows can be all over the place depending on who pays when.  In a real business if you set credit terms of net 30 you will find some people pay you the day after you send them the invoice, some pay on a certain day of the month,  some wait until day 30, some wait until you call them, and a few don't pay at all.  They tend to simplify this in the classroom to longer intervals (months) and just have everyone pay you timely minus some allowance for bad debt.    If that's the case, then whatever interval they have you on I would just assume you get paid ~95% of the A/R due over that term.