Hi, Thanks.
"For Bad Debts, set up an account called "Allowance for Doubtful > Accounts" as a child of AR. (be sure to make this of type 'Asset') > > You can then 'pay' the invoice using this account as the source. > > This will cause the invoice to be closed by GnuCash and it will be > removed from the Due Invoices Reminder." This does not work. I created an asset account under "Accounts receivable" and I put the entry in for the $500, an increase. I then tried to assign it as a payment to the invoice. It said "you must select a transfer account from the account tree." On Mon, 2021-03-08 at 09:50 -0600, Adrien Monteleone wrote: > *note* none of the below is accounting or tax advice, but how to use > GnuCash to accomplish the goal of 'clearing' the invoices while > following general accounting practices. > > Here's how to handle both using the Business Features so GnuCash > sorts > everything properly and can 'see' what you are doing. > > ----- > For Bad Debts, set up an account called "Allowance for Doubtful > Accounts" as a child of AR. (be sure to make this of type 'Asset') > > You can then 'pay' the invoice using this account as the source. > > This will cause the invoice to be closed by GnuCash and it will be > removed from the Due Invoices Reminder. > > Then make a manual entry zeroing out this amount between Allowance > for > Doubtful Accounts and Expenses:Bad Debts account. > > ----- > For the reduced invoice, you can either edit the original after > un-posting and adding in the eventually issued discount and re- > posting. > (which of course, alters the original amount, but you see the > discount > so you can figure out what it was if needed) > > *or* > > You can issue a credit note for the discount and link it with the > invoice when recording as a payment. (thus offsetting the original > balance) That way, both the credit note and the original will > disappear > from the Invoices Due Reminder as they are now both 'closed' > entirely. > Personally, I like this method as it preserves everything as > originally > done, rather than making edits. > > Regards, > Adrien > > On 3/6/21 10:35 PM, Daffy Duck wrote: > > Hello, > > > > I have some clients that, for whatever reason, I didn't finish work > > for > > because something happened, so we ended the transaction without the > > full payment. > > > > They continue popping up on invoice reminder, etc. > > > > I have another client who I have agreed to settle for a lesser > > price > > than that which was billed. > > > > In these cases, how do "close" the invoice but still have the > > ability > > to see the details if you ever have to? What is the recommended > > way to > > do this? > > _______________________________________________ > 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.