Thank you all for helpful responses so far. It is too bad that accrual vs cash invoice accounting is not a setting. At any rate I usually only have a handful of outstanding invoices at a time. I propose the following:
1) At end of year, figure out the total dollar amount of unpaid invoices. 2) Create a new Income account "unpaid sales" 3) Debit sales by the unpaid total and credit "unpaid sales" 4) Ideally see if "unpaid sales" can be omitted from the income statement report. 5) Otherwise, manually subtract "unpaid sales" from Total income to get income tax liability 6) At start of next year, keep "unpaid sales" but zero out all other income accounts (transfer to year-end equity - my usual system for income and expenses) 7) During the year, either move the total back to sales immediately or when each invoice is paid, manually debit "unpaid sales" and credit "sales" for that amount. Does that sound right? BH -- Blake Hannaford -- _______________________________________________ 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.
