That’s the same account. Accounts Receivable is a Current Asset account. That is what the invoice posts to. (other than the chosen Income account)
In order to increase the balance, you post a debit to it. If you want to increase an Asset or an Expense, you debit the account. If you want to increase Income, Liabilities or Equity, you credit the respective account. Regards, Adrien > On Feb 5, 2018, at 4:18 PM, Cliff McDiarmid <cliffhan...@gardener.com> wrote: > > > > Sent: Sunday, February 04, 2018 at 11:53 PM > From: "Maf. King" <m...@chilwell.net> > To: gnucash-user@gnucash.org > Cc: "Cliff McDiarmid" <cliffhan...@gardener.com> > Subject: Re: Creating and Posting an Invoice > On Sunday, 4 February 2018 23:30:32 GMT Cliff McDiarmid wrote: >> Hi >> >> I've nearly got gnucash running as i want it but i need some advice > on >> posting an invoice which is proving confusing. >> >> I create an invoice where one has to select an Income account; in my >> case a current account. But when it gets to posting the invoice one >> has to select a 'Post to Account' where one has to create a 'A/c >> receivable'. I assume this because of the double accounting, but why >> can't I just select an Income account such as 'Wages' at this stage? >> >> OK, so GC's invoice subsystem uses a concept called "accrual > accounting". You >> write the invoice and expect to be paid at some point in the future. > (end of >> month, 30 days, that sort of thing) >> With that in mind, the income is generated when you create the > invoice, even >> though you don't physically have the cash yet. >> As you write out the line items on the invoice in GC, you select the > relevant >> income account (eg Income:Sales or Income:consulting etc.) When the > invoice >> is "posted" into the GC books, this has the effect of increasing your > income >> totals. (your bank account isn't income, it is an asset account) >> But where to post it to balance the double entry? As far as gnucash > knows, >> you probably don't have the money yet, (assuming you are running > accruals >> "properly"), so clearly the bank account is the wrong place. This is > the >> purpose of the special A/R account. It stores the "earned but not yet >> received" money - and it is the other half of double-entry. >> At some point in the future, when the money actually arrives (maybe in > your >> case that is 1 second later, not 1 month or so!) you "process > payment", which >> decreases the A/R and increases the bank account (income is untouched > at this >> stage. you already earned it!) > One more thing on this subject. Why, when posting the invoice does it > place the amount in the A/R account as you explained, BUT also in the > receivable account(current)as a DEBIT! > > thanks > > Cliff > _______________________________________________ > gnucash-user mailing list > gnucash-user@gnucash.org > To update your subscription preferences or to unsubscribe: > https://lists.gnucash.org/mailman/listinfo/gnucash-user > If you are using Nabble or Gmane, please see > https://wiki.gnucash.org/wiki/Mailing_Lists for more information. > ----- > Please remember to CC this list on all your replies. > You can do this by using Reply-To-List or Reply-All. _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
