Context 1. Context Accounting for invoices is a crucial process for businesses. Understanding the rules and best practices is essential to avoid errors and inconsistencies. 2. Current Methods You mentioned that some interns use different methods for accounting for invoices. Some account for invoices based on the day, regardless of the month (e.g., all invoices dated April 7 and March 7 are accounted for on May 7). Others account for invoices received before the 1st of the month on the 1st of the following month (e.g., invoice dated March 18 accounted for on May 1, invoice dated April 18 accounted for on May 1, etc.). 3. The Basic Rule Invoices must be accounted for on the date they are issued, which is generally the transaction date. This means that invoices must be recorded in the accounts on the date they were issued.