Hi Caleb,
all outstanding payments and receivables are collected in the A/R and A/P
accounts. You distribute your income and expenses in the invoices and bills to
the Income and Expense accounts.
You should see the A/R and A/P accounts as transitory payment accounts for the
business
In our jurisdiction, we are permitted to use cash accounting (and there are tax
advantages to doing so) for our line of business.
I still use the business features, putting through invoices even when payment
is immediate (I’d like a “post & pay” shortcut, but I don’t know whether anyone
else
Hi Maf,
Just a slight clarification on what accrual accounting means.
The GAAP contains certain principles about when income is considered to be
earned and when expenses are considered to be incurred and when they are to
be recognized/recorded in the accounts. These are not necessarily
-- Forwarded Message --
Subject: Re: GL Accounts
Date: Friday, 8 December 2017, 16:38:49 GMT
From: Maf. King <m...@chilwell.net>
To: Caleb Walker <ca...@calebwalker.net>
On Friday, 8 December 2017 14:52:04 GMT you wrote:
> Thank you Mr. King for your respons
On Friday, 8 December 2017 14:52:04 GMT you wrote:
> Thank you Mr. King for your response. My question is not about accounting
> principles but more so how do I do that in GC. When I go to “Process
> Payment” the only thing available to “Post To” is “Assets:Accounts
> Receivable”. I cannot put
Caleb,
Just a word of caution.
Certainly, not all transactions need to go through the business features and
you can make manual transactions to accounts other than the built-in AR/AP
accounts.
However, don’t make manual transactions in or to these accounts either. If you
do, the business
Hi Caleb,
welcome to the list. Answers inline...
On Thursday, 7 December 2017 17:56:18 GMT Caleb Walker wrote:
> Hello All,
>
> I am trying to use GNUCash like I use Sage 100 understanding it is not as
> full featured as Sage but might be ok with another business I am starting.
> What I
Hello All,
I am trying to use GNUCash like I use Sage 100 understanding it is not as full
featured as Sage but might be ok with another business I am starting. What I
would like to do is make payments to something other than AP or receive
invoices to something other than AR. Is that
