Vance, yes in any accounting system a negative asset, in this case a receivable, is a liability. Leaving it as a negarive receivable where it will offset future invoices is OK.
Sent from Samsung Galaxy smartphone. -------- Original message -------- From: Vance Turnewitsch via gnucash-user <gnucash-user@gnucash.org> Date: 9/11/22 6:51 PM (GMT-05:00) To: gnucash-user@gnucash.org Subject: [GNC] Pre-Payments into Liabilities Hello, I use GnuCash for a small school. One of our parents paid their entire tuition amount at the beginning of the year. I have been fiddling with how to record this. We bill monthly; therefore, for the payment that doesn't have a receivable yet, shouldn't it go into a liability account? Using the "Process Payment" dialog results in an accounts receivable with a negative balance. This seems odd to me, but it has been some time since I took accounting. In GnuCash's system, is an accounts receivable with a negative balance akin to a liability? Thanks, Vance Sent with [Proton Mail](https://proton.me/) secure email. _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- 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 ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
