Re: [GNC] Importing bank data, sending instructions.
> On May 15, 2024, at 17:58, Chris Miller wrote: > > Hi Folks, > > GnuCash will import bank data in OFX format. OFX imports advise me of > activity that originates with the bank, so I can "sync" my books with the > bank. So far; so good. > > Wells Fargo produces an OFX import file with "WebConnect", but I have been > using Wells Fargo "Direct Connect" for thirty years. "Direct Connect" allows > me to write checks and transfer funds from QuickBooks, but "OFX Import" does > not, which makes sense, because it is an import, not a dialog. > > I see that there is a way to send instruction to the bank and it is > AQBanking, which is an open source library that comes with GnuCash. I suspect > that AQBanking will be tricky to configure, so I'm looking for advice, > specifically advice on configuring AQBanking to run with Wells Fargo. > Reference to a specific AQBanking monograph for Wells Fargo would be > outstanding. > > Thanks for the help, > -- > Chris. I’m sorry to say that sending instructions via AQbanking will never happen. Even before Quicken (and even Intuit before them) started actively trying to deep six DirectConnect, it was highly impractical for anyone on the outside to handle sending instructions. The costs of gaining access to a DirectConnect test server made it unthinkable for an open source programmer to attempt to include sending instructions via DirectConnect. Add to that the fact that sending instructions essentially means moving money out of someone’s account, the risks to an independent developer become enormous. All but 2 of my financial institutions have ceased supporting DirectConnect even for downloading transaction data. And one of them has crippled the content of the description field so badly that I’ve bailed to CSV. That leaves 1 out of what used to be 8 institutions that I could use with AQbanking. The end is near (though a few banks may hold out for a few more years). -- Dave Reiser dbrei...@icloud.com ___ 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.
[GNC] How should I enter values on a budget in gnucash ?
Hi all, I am using Gnucash 4.8. I'm facing the issues discussed here. I see a bunch of issues here: https://bugs.gnucash.org/buglist.cgi?component=Budgets=GnuCash=--- Specifically I am hitting these: * https://bugs.gnucash.org/show_bug.cgi?id=797870 * https://bugs.gnucash.org/show_bug.cgi?id=689754 I've seen a bunch of comments in this e-mail thread about user error or user preferences. Fact is the budget feature is just plain wrong as there is currently no form of user entry that gives consistent results in the following areas: * Budget Chart - plots actual vs budget bar chart * Budget Editor Income/Expense/Transfers/Total - this seems to be where the math error is * Budget Balance sheet - I don't use this one, but can confirm that it behaves as described in the issues above. What I desire: * Budget Editor Income/Expense/Transfers/Total is correct so that I can tell at a glance if I've made a mistake in my budget. * Budget Chart - I need the credits and debits to be plotted in the same direction. I don't care whether the Reverse value for Credit Accounts is set or not or which direction debits/credits are plotted so long as they are consistent. What I have been doing as a work around: * In the Budget Editor I put debiting a liability [thus decreasing my liability] as a +ve value and crediting a liability [thus increasing my liability] as a -ve value. If I make corresponding transactions in my accounts, then the Budget Chart of actuals vs budget agree. * In the Budget Editor I put crediting my Income as a +ve value and debiting an Expense as a +ve value. If I make corresponding transactions in my accounts, then the Budget Chart of actuals vs budget agree for Expenses but are opposite (diverging graph) for Income. But that's OK because I don't include income in my Budget Chart. * In the Budget Editor, the totals are calculated like: Remaining to Budget = Net Income Credits - Net Expense Debits + Net Transfer Debits (where debits are positive values on the budget sheet and credits are negative values on the budget sheet). Note that again, the "Reverse value for Credit Accounts" setting has no effect on the charts or the budget editor as far as I can tell. * Thus, the +ve values on my liabilities increase the total remaining to budget! * I can rectify the total remaining to budget by using -ve values for debiting a liability, but if I do that my Budget Chart is off (I include Expense and Liabilities in my chart). * So instead, I do a crazy hack: For every +ve value in a Liability, I put a corresponding -ve value in Equity and a +ve value in Assets. The result is: * The total remaining to budget is correct * The Budget Chart shows actuals that go in the same direction as budget values for Expense and Liabilities. * The Budget Report is incorrect for liabilities - but I don't use this feature - I use the Budget Chart instead. * I have to remember to put the hack values in my Assets and Equities on the Budget Editor (making room for error). This whole thing makes me afraid to use the budget feature. As my wife is used to an Envelopes (Single Entry) system rather than Double Entry accounting, it's critical that I can have a reliable budgeting feature (essentially what single entry is looking at). At this point, I'm seriously considering changing my method to the following: * Put all values in budget editor as +ve for a debit and -ve for a credit. * The estimate feature will be applying sign reversal inconsistently with this approach - but this is less error prone to reverse (multiply each value by minus -1 as necessary). * The total remaining to budget will be completely wrong, but I can calculate this myself by looking at the rolled up top level accounts (assuming I haven't hard-coded values in any of these accounts). That is, summing the totals on the top-level accounts should add to zero. * Assuming corresponding transactions entered in the accounts, ie, sticking to budget, then all the accounts on the Budget Chart will show actuals agreeing with budget, including Income accounts (and Equity accounts too?). * Differences on Budget Chart will be shown correctly (in terms of magnitude), though wrapping my head around the sign reversal will be a pain - but this is the "normal" confusion I face with meaning of credit and debit in terms of accounting vs colloquial usage. * Budget Report is still wrong (sign reversal applied to Liabilities in Actual but not in Budget values). But I don't use this feature. * Budget Balance sheet is still wrong for the same reason. But I don't use this feature either. This would achieve my goals of a) reduce possibility of introducing error while creating my budget, b) ensure the Budget Chart is readable and differences are shown at correct magnitude. But it still bugs me that the Total Remaining to budget is wrong (let alone other budget reports than budget chart being wrong). It's not a good look trying to explain away this discrepancy to my wife... Having the
Re: [GNC] Simultaneous access
No. Using an SQL database just means you are deciding where you are going to save your data. The way the program works is that it loads your data file into memory and any changes you make are done in memory. Data is not saved anywhere until you specifically write it to wherever you store it. There's no multiple access, no simultaneous updating. If someone else loads the same datafile into memory, whatever changes either user makes, the file that becomes the permanent data file is the one written last. ___ 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.
Re: [GNC] Simultaneous access
Hi, On Wed, May 15, 2024 7:14 pm, Chris Miller wrote: > The application gnucash does NOT support multiple simultaneous > access. > That would require a DBM (database manager) > >Apparently there are a variety of DBM "back-ends". If I configure >Postgress, for example, do I get simultaneous access? No. The DBM is just used as a storage system. GnuCash is not a DB App, which is what would be required to actually support simultaneous usage. It's on the roadmap to get there, but at the current rate I expect to see it somewhere in the 2030s. >Thanks for the help, >Chris. >Laboriously sent to you from my ... do you really care? > Please remember to CC this list on all your replies. > You can do this by using Reply-To-List or Reply-All. -derek -- Derek Atkins 617-623-3745 de...@ihtfp.com www.ihtfp.com Computer and Internet Security Consultant ___ 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.
Re: [GNC] Simultaneous access
The application gnucash does NOT support multiple simultaneous access. That would require a DBM (database manager) Apparently there are a variety of DBM "back-ends". If I configure Postgress, for example, do I get simultaneous access? Thanks for the help, Chris. Laboriously sent to you from my ... do you really care? ___ 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.
Re: [GNC] Use of cash discounts in business account tree
Thank you Michael. I was unsure of how to use this in a double entry account. WHen I get a discount from a wholesaler, then there is a credit to Cash discounts, which is an expense. There is also a corresponding debit to my checking account. When I issue a site wide discount there is a debit to the cash discount but a credit to the checking account. Am I doing that correctly? Well at least you understand that your question isn't about using gnucash to keep your double entry books but about double entry no matter what you would be using. What I suggest is that you get a standard "bookkeeping/accounting 101" sort of text. In this case you would be wanting to look up how business transactions involving discounts are handled (in other words, what the bookkeeping transaction would look like). You are bound to have lots more questions of this :what should I be doing" sort so keep that text handy. Gnucash is mostly automating the traditional process, but you still need to know WHAT you are trying to do. Michael D Novack ___ 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.
Re: [GNC] Simultaneous access
On 5/15/2024 6:02 PM, Chris Miller wrote: Hi Folks, Can I store my GnuCash "books" on a server, or a NAS, and do my bookkeeping from any of my machines, meaning my windows desktop or my Linux development station? Can I do this simultaneously? The application gnucash supports multiple sequential access. If the directory containing the file that is the books is on this server, the "lock file" method of preventing multiple simultaneous access should still work. Do not override that! (the way you can if you are the only possible user) The application gnucash does NOT support multiple simultaneous access. That would require a DBM (database manager) Michael D Novack ___ 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.
Re: [GNC] Use of cash discounts in business account tree
On Tue, May 14, 2024 at 10:10 PM Michael or Penny Novack wrote: > The wizard is only a starting point giving an example of TYPICAL > accounts. There is no guarantee tat the set of accounts would =meet the > needs of YOUR business. If your business never offered cash discounts, > then your business wouldn't have that account in its ledger. > > Are you saying that you never encountered cash discounts? You never got > an advertisement from a vendor saying "this week only, 10% discount site > wide"/ Thank you Michael. I was unsure of how to use this in a double entry account. WHen I get a discount from a wholesaler, then there is a credit to Cash discounts, which is an expense. There is also a corresponding debit to my checking account. When I issue a site wide discount there is a debit to the cash discount but a credit to the checking account. Am I doing that correctly? ___ 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.
Re: [GNC] Simultaneous access
Hi Chris > Can I store my GnuCash "books" on a server, or a NAS, and do > my bookkeeping from any of my machines, meaning my windows desktop or > my Linux development station? Yes - provided you have the GnuCash software (preferably the same version) installed on each of those client machines. > Can I do this simultaneously? No, GnuCash is designed for exclusive single user access only. Regards Geoff = On 16/05/2024 8:02 am, Chris Miller wrote: Hi Folks, Can I store my GnuCash "books" on a server, or a NAS, and do my bookkeeping from any of my machines, meaning my windows desktop or my Linux development station? Can I do this simultaneously? Thanks for the help, ___ 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.
[GNC] Simultaneous access
Hi Folks, Can I store my GnuCash "books" on a server, or a NAS, and do my bookkeeping from any of my machines, meaning my windows desktop or my Linux development station? Can I do this simultaneously? Thanks for the help, -- Chris. V:916.799.9461 F:916.974.0428 A: Because we read from top to bottom, left to right. Q: > Why should I start my reply below the quoted text? ___ 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.
[GNC] Importing bank data, sending instructions.
Hi Folks, GnuCash will import bank data in OFX format. OFX imports advise me of activity that originates with the bank, so I can "sync" my books with the bank. So far; so good. Wells Fargo produces an OFX import file with "WebConnect", but I have been using Wells Fargo "Direct Connect" for thirty years. "Direct Connect" allows me to write checks and transfer funds from QuickBooks, but "OFX Import" does not, which makes sense, because it is an import, not a dialog. I see that there is a way to send instruction to the bank and it is AQBanking, which is an open source library that comes with GnuCash. I suspect that AQBanking will be tricky to configure, so I'm looking for advice, specifically advice on configuring AQBanking to run with Wells Fargo. Reference to a specific AQBanking monograph for Wells Fargo would be outstanding. Thanks for the help, -- Chris. V:916.799.9461 F:916.974.0428 A: Because we read from top to bottom, left to right. Q: > Why should I start my reply below the quoted text? ___ 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.
Re: [GNC] Unable to Refine Existing Search
David, On Wed, May 15, 2024 12:07 pm, David Carlson wrote: > I vaguely recall asking for an enhancement a few years ago to show the > search criteria along with the results but I have forgotten whether that > was in Bugzilla or in that other place which I now cannot even remember > the > name of. UserVoice? > Please remember to CC this list on all your replies. > You can do this by using Reply-To-List or Reply-All. -derek -- Derek Atkins 617-623-3745 de...@ihtfp.com www.ihtfp.com Computer and Internet Security Consultant ___ 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.
Re: [GNC] Unable to Refine Existing Search
I vaguely recall asking for an enhancement a few years ago to show the search criteria along with the results but I have forgotten whether that was in Bugzilla or in that other place which I now cannot even remember the name of. On Wed, May 15, 2024 at 6:33 AM Patrick Skelton wrote: > Hi, > > If I do a *Find* in GnuCash using a handful of criteria, it does what I'd > expect. > > If I then want to modify this existing *Find*, I cannot see how to do this. > If I select the same operation again from the menu while the currently > active tab contains my current find results, and then I click on either > 'Refine current search' or 'Add results to current search', the original > criteria I set are gone, so basically I am just doing a new search and have > to enter all the criteria again. > > Is there a way to modify the search criteria already used or perhaps even > save a set of criteria so they can be re-run. > > I realise what I am really wanting here is a custom report but I need it to > contain only records containing a certain string and I can't see how to get > the reporting to do this. > > Kind wishes - Patrick > ___ > 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. > -- David Carlson ___ 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.
Re: [GNC] Unable to Refine Existing Search
The Transaction Report has a Filter option that takes simple text as well as a Regular Expression. Regards, Adrien On 5/14/24 2:24 AM, Patrick Skelton wrote: I realise what I am really wanting here is a custom report but I need it to contain only records containing a certain string and I can't see how to get the reporting 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 - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: [GNC] How to transfer customer and vendor information from a previous GNUCash file?
Please remember to hit reply-all or reply-list so others can participate and benefit from the discussion. - While you can't delete an Invoice/Bill, you can reuse them. When I end up in such a situation, I change the document ID to "Use Next" so I can find it easily, and then simply edit it as needed before posting. Regards, Adrien On 5/15/24 12:50 AM, Wesley Brooks wrote: I just wanted a fresh start on the accounts. I do realise GNUCash is fine to keep using the same file indefinitely. I've been using GNUCash for a couple of years now, and my approaches and preferences to entering the data has changed. I don't want to continually have the old data there and a nagging desire to waste my time and go back and edit it to fit my current way of handling the data. I also don't like the way scrapped invoices and bills aren't ever really deleted either, kind of hanging around like ghosts. I will add in the customer and vendor information as required. I use GNUCash to keep my records, and then pass the data to my accountant for final check through and submission. I inevitably end up with edits I need to make to my records and save another pending post to this forum a fresh start with corrected opening balances is an easy way of achieving these corrections. ___ 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.
Re: [GNC] Unable to Refine Existing Search
Hi, On Tue, May 14, 2024 3:24 am, Patrick Skelton wrote: > Hi, > > If I do a *Find* in GnuCash using a handful of criteria, it does what I'd > expect. > > If I then want to modify this existing *Find*, I cannot see how to do > this. > If I select the same operation again from the menu while the currently > active tab contains my current find results, and then I click on either > 'Refine current search' or 'Add results to current search', the original > criteria I set are gone, so basically I am just doing a new search and > have > to enter all the criteria again. No, the initial criteria are still there -- just inaccessible. You're just appending to them with an additional AND statement (refine) or OR statement (add results). > > Is there a way to modify the search criteria already used or perhaps even > save a set of criteria so they can be re-run. No. > I realise what I am really wanting here is a custom report but I need it > to > contain only records containing a certain string and I can't see how to > get > the reporting to do this. Could you go into more details about what it is, exactly, you're trying to do? > Kind wishes - Patrick > Please remember to CC this list on all your replies. > You can do this by using Reply-To-List or Reply-All. -derek -- Derek Atkins 617-623-3745 de...@ihtfp.com www.ihtfp.com Computer and Internet Security Consultant ___ 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.
[GNC] Unable to Refine Existing Search
Hi, If I do a *Find* in GnuCash using a handful of criteria, it does what I'd expect. If I then want to modify this existing *Find*, I cannot see how to do this. If I select the same operation again from the menu while the currently active tab contains my current find results, and then I click on either 'Refine current search' or 'Add results to current search', the original criteria I set are gone, so basically I am just doing a new search and have to enter all the criteria again. Is there a way to modify the search criteria already used or perhaps even save a set of criteria so they can be re-run. I realise what I am really wanting here is a custom report but I need it to contain only records containing a certain string and I can't see how to get the reporting to do this. Kind wishes - Patrick ___ 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.
Re: [GNC] How to enter an accrued expense before Invoice?
Please read over my original reply again. I gave you the transaction templates that illustrate what you are looking for. Step 1 is recording the accrued expense. This should be dated when the expense was incurred. (when service rendered) Step 2 is entering the Vendor Bill which accomplishes the goal of moving the accrued expense to liabilities. (this should match the Vendor's date on their Invoice to you) Do *not* select the 'Expense' account here for your line item. That has already been affected in step 1. This time, you select the Accrued Expenses account instead. Step 3 would be paying the Bill, reducing liabilities. (this is the date you actually remit payment) - As for payments unlinking themselves when unposting a Bill/Invoice that is normal. It however should do its best to automatically re-link that payment when you re-post the document after editing. If it does not, you do not need to delete and re-enter the payment. Simply 'Process Payment' via the Toolbar Icon, and select both the document you are paying (bill or invoice) *and* the offsetting payment transaction. Adjust any details of the payment as needed *other than* the amount. (that was already entered the first time) Regards, Adrien On 5/15/24 1:57 AM, Wesley Brooks wrote: I understand what an accrued expense is, and how in theory it should work. But I haven't seen how to enter it in a way that when I raise the bill following the above process the debt moves from the Accrued expenses to the Accounts payable account? A little frustration with the system as it stands at the moment is that if I subsequently need to edit a bill (wrong date, missed description when posted, typo in line, etc), if I unpost it make a change then GNUCash forgets the connection between the bill and the transaction that cleared the bill. I then need to delete the payment that cleared the bill and then re-enter it. Does that explain the question better? ___ 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.
Re: [GNC] How to enter an accrued expense before Invoice?
That's only if you do everything manually as you describe. You could also use the Business Features to enter the Accountant's Invoice (Bill) to you, and then enter a payment to clear it. The line item(s) of that Bill, would connect to your Accrued Expenses account, though admittedly, not directly to any specific entry in it. (though you can roughly accomplish this with proper Description/Notes/Memo fields. Depending on your needs, you may want to investigate unchecking the box to 'accumulate splits' when posting a Bill, as that way, all line items will appear in the affected registers, rather than multiple line items to the same account being consolidated. Regards, Adrien On 5/15/24 3:01 AM, Wesley Brooks wrote: So in summary from how I now understand this GNUCash doesn't have any method of linking the accrued expense to the invoice, it just has to be processed manually. ___ 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.
Re: [GNC] How to enter an accrued expense before Invoice?
I think I've cracked it. Thanks to Adrien and David for the pointers. I have created an Accrued Expenses account in: Liabilities:Accrued Expenses At the final day of my current accounting period I create a transfer which adds money to this account as such: Actions > Transfer Within the pop up: * Set date to final day of accounting period. * Description: Accrued expense for accounting period 221101-231031 * Amount: Expected accountant fee. * Transfer From: Liabilities:Accrued Expenses * Transfer To: Expenses:Professional Fees:Accounting When the invoice from the accountant is received I return the funds from the accrued accounts: Actions > Transfer Within the pop up: * Set date to that of invoice. * Description: Transfer from Accrued expenses for accounting period 221101-231031 * Amount: Previously expected accountant fee. * Transfer From: Expenses:Professional Fees:Accounting * Transfer To: Liabilities:Accrued Expenses So in summary from how I now understand this GNUCash doesn't have any method of linking the accrued expense to the invoice, it just has to be processed manually. Thanks! On 14/05/2024 22:14, Adrien Monteleone wrote: This is essentially a basic accounting question, not so much 'how to do this in GnuCash.' The exact accounts used are up to you, but generically between an accounts such as: Dr. Expenses:Professional Services Cr. Liabilities:Accrued Expenses When the invoice is received, draw down the Accrued Expenses account to an Accounts Payable account: Dr. Liabilities:Accrued Expenses Cr. Liabilities:Accounts Payable (when you pay the invoice, you'll draw down the Accounts Payable account to whatever Asset account you used as a source of funds, e.g., Assets:Checking, as with any other Vendor Bill) In the case of using the GnuCash features, you can enter the accrued expense manually or via an SX. (Scheduled Transaction) Then when the accountant's invoice is received, enter a Vendor Bill in GnuCash with the line items posting to the relevant Accrued Expenses account, and posting the entire Bill to the relevant Accounts Payable account. The date of booking the Accrued Expense should be when the expense was incurred, thus, when you received service from the accountant. The date of the Bill should be the date of the accountant's invoice. The date of the payment is the date you effectively paid it. (usually the 'tender' date, such as post-marking if sent by snail mail) There are also 'received' and 'cleared' dates in some cases, but those are not always relevant to when a debt was considered 'paid' but that will depend on your specific jurisdicition and circumstances. (those may be relevant to reconciling your bank/credit account however, if it factors in.) As always, this isn't accounting advice - ask your accountant! Regards, Adrien On 5/14/24 8:39 AM, Wesley Brooks wrote: I'm a basic level user of GNUCash, and generally enter transaction details mostly by raising bills/invoices and subsequently processing the payments. The only exceptions to this are how I enter my salary payments, and transfers between my company and private accounts covering director loans and repayments. My accountant has added their charge for accounting and an accrued expense on their submissions, long before they would raise an invoice. How do I generate an accrued expense so that it works with a subsequently raised the invoice, and processed payment in the following year? ___ 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. -- Wesley Brooks PhD BEng +44 (0) 1744 410490 +44 (0) 7833 067513 My in office time is non-standard, and currently Monday to Thursday 06:00 - 14:00. *I do not expect anyone to respond or acknowledge emails outside of their own usual working hours.* Brewed Up Research Products & Services Limited Unit 14, Catapult Too Parade Street Building, Parade Street, St Helens, Merseyside, WA10 1LX. Company Number: 11602997 ___ 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.
Re: [GNC] How to enter an accrued expense before Invoice?
I will try to ask another way. My normal process... ## Entering an Invoice from Vendor ## Business > Vendor > New Bill: * Set date opened to the date of the transaction - eg when received the invoice. * Select the vendor. * Maybe add notes. On the invoice entry page: * Set each line/entry date to the same date as the date opened. * Description, quantity, unit price needs no explanation. * Set "Action" to hours for services and "Material" to bought things. To be honest I don't know what this is used for. Will look it up another time. * Select the expense account, so in this case for accounting Expenses:Professional Fees:Accounting. * Post the invoice... On the post invoice pop-up: * Post date - same as opening again! * Due date from invoice. * Description - always try to remember to add this one. Really frustrating when you forget - see other email about wanting to start fresh! * Post to account - I leave this as default Liabilities:Accounts Payable ## Paying a Due Invoice from Vendor ## When the time comes I then process the payment: Business > Vendor > Process Payment * Set translation date to the date the money left my account. * Select the Transfer Account to match where the money came from. In my case Assets:Current Assets:Business Account ## ...return to discussion... ## When following the above process GNUCash automatically creates entries in Expenses:Professional Fees:Accounting and Liabilities:Accounts Payable when the invoice is raised. Once past the due date for the invoice it appears on the pop up from Business > Vendor > Bills Due Reminder Once the bill is paid (using process above) GNUCash automatically adds balancing entry to Liabilities:Accounts Payable and adds a deduction to the Transfer account Assets:Current Assets:Business Account. After the above bill entry and payment is completed the report in Business > Vendor > Vendor Overview > MyAccountantLtd balances with no mention of prepayments, or imbalances. ## ...return to my original question... ## I understand what an accrued expense is, and how in theory it should work. But I haven't seen how to enter it in a way that when I raise the bill following the above process the debt moves from the Accrued expenses to the Accounts payable account? A little frustration with the system as it stands at the moment is that if I subsequently need to edit a bill (wrong date, missed description when posted, typo in line, etc), if I unpost it make a change then GNUCash forgets the connection between the bill and the transaction that cleared the bill. I then need to delete the payment that cleared the bill and then re-enter it. Does that explain the question better? On 14/05/2024 22:37, David Cousens wrote: Wesley, you have to think through what the objective of the accrued accounting expense is and that is to charge the expense to the expense account as it accrues. You will eventually have to pay the money to the accountant when he presents his invoice so the total accrued amount is a liability for your business. On some regular basis (weekly/monthly etc - asks your accountant for advice), most likely with a scheduled transaction you could make an entry of the form: Expense:Accrued Accounting DR xxx Liability:Accrued AccountingCR xxx where the sum of xxx over your accoutning period will be roughly equal to the annual value of the accounting charges . WHen you receive the invoice you would create an bill which transfers the accrued liability to your accounts payable, i.e. Liability:Accrued Accounting DR Expense:Accrued Accounting CR zzz Liability:Accounts Payable CR + zzz where zzz is an adjustment for the amount the invoice exceed your accrued accounting expenses in the liability account. ( if the amount of the invoice is less than the accrued expenses you would debit the Expense:Accrued Accounting account and subtract zzz from yyy in the third line. When you actually make the payment it is Liability :Accounts Payable DR + zzz Asset: Bank:Cheque CR + zzz where zzz was credited to the accrued expense account (invoice larger than accrued amount by zzz) and replacing with -zzz where the invoice amount is less than the accrued amount by zzz. There may be alternative ways of recording which may be jurisdiction dependant - check with you accountant - that's what you are paying him for. The aim is to use a value of the periodic accruals xxx which sums pretty closely to the expected final invoice amount. As always the above does not constitute specific accounting advice and you need to discuss exactly what is required with your accountant. David On Tue, 2024-05-14 at 14:39 +0100, Wesley Brooks wrote: Dear users, I'm a basic level user of GNUCash, and generally enter transaction details mostly by raising bills/invoices and subsequently processing the payments. The only
