when you are posting the invoice, select year 2 date, then your book should
reflect it on the corresponding year
Saludos Cordiales
Murugan
From: gnucash-user
on behalf of
Blake Hannaford
Sent: Sunday, March 3, 2024 12:46 PM
To: gnucash-user@gnucash.org
What you want is cash accounting and Gnucash is set up for accrual based
accounting.
In our jurisdiction certain businesses are permitted to use cash accounting for
income tax (and there are, for some, advantages to doing so) but all businesses
are required to use accrual accounting for sales
On 3/3/2024 10:46 AM, Blake Hannaford wrote:
Sometimes I send an invoice to a customer in year 1, but the payment is
received in year 2. Gnucash always seems to credit the Income/Sales
account when posted, but then my income for Year 1 taxes is overstated, and
Year 2 is understated.I know y
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.
I'm not going to comment on "does that sound right?" The accounts used
and workflow to temporarily convert accrual to cash are an accounting
matter, not a gnucash matter. As for there not being a "setting", that
make no sense. The difference between "cash" and "accrual" is LOGICAL
(the timing w
On 3/4/24 11:34 PM, Blake Hannaford wrote:
1) At end of year, figure out the total dollar amount of unpaid invoices.
Check the Receivables Aging Report. This should give you the total you want.
2) Create a new Income account "unpaid sales"
3) Debit sales by the unpaid total and credit "unpaid
