Thanks for the suggestion Dererk but rounding makes me think this won't work.
I'm OK with the oproicess I'm now using, adjusting the amount received and
the PayPal fee in the PayPal account after the payment has been posted to
the A/R account.
--
Sent from:
Hi,
tbalaban writes:
> I run a service organization that contracts with others on per item basis.
> Therefore the amount I invoice is much greater than the amount we retain.
>
> How do I reclassify the amount invoiced so that the various expenses related
> to the transaction are booked but not
ubject: Re: [GNC] How to Reclassify Invoice Amounts
Unless I misunderstand your situation, you are a small business, do things pretty
simply, and do not have a large accounting dept. If this is so, then you don’t need
to reclassify anything. The total billed for your service(s) is Sal
up to date.
Best,
Tom
-- Original Message --
From: "Adrien Monteleone"
To: "gnucash-user"
Sent: 12/8/2018 7:33:24 PM
Subject: Re: [GNC] How to Reclassify Invoice Amounts
Tom,
When you record the payment of the invoice, record the full amount.
Then either
mak
Unless I misunderstand your situation, you are a small business, do
things pretty simply, and do not have a large accounting dept. If this
is so, then you don’t need to reclassify anything. The total billed for
your service(s) is Sales and all the “various expenses related to the
transaction”
Tom,
When you record the payment of the invoice, record the full amount.
Then either
make a separate expense transaction for the fee balanced against your PayPal
account/checking account. (depending on if you use the PayPal account and then
transfer afterwards)
or
edit the payment
You should really speak to a local CPA to get a clear direction and picture of
how you need to handle the various issues particular to your jurisdiction.
Revenue and expenses should not be in the same transaction and expenses should
certainly not be on an invoice except in rare cases where you
I run a service organization that contracts with others on per item basis.
Therefore the amount I invoice is much greater than the amount we retain.
How do I reclassify the amount invoiced so that the various expenses related
to the transaction are booked but not shown on the invoice?
E.G., a
