Re: [GNC] Should one use Accounts Payable if a vendor is paid immediately ?

[R Losey]

I also do what Andren does, but I do see your point.

However, I find that GnuCash remembers previous entries, and suggests them,
so once I have entered "Some Vendor", once I get to whatever is unique (So,
perhaps), it prompts for the entire name. This helps keep the vendor names
consistent.

On Mon, Nov 28, 2022 at 5:20 AM Stan Brown 
wrote:

> On 2022-11-27 19:37, Adrien Monteleone wrote:
> > Personally, I use the Description field for *all* of my transactions as
> > a Payor/Payee line. Actual descriptive info I put in the Notes and/or
> > Memo fields.
> >
> > In that case, I can simply run a Transaction Report filtered on the name
> > of the Payor/Payee and see the desired activity.
>
> The trouble with that is that the text fields aren't validated. It's
> fine if you never, ever, make a typo; but I'm not perfect. If I make a
> typo in an account name, I know it immediately and can fix it. But if I
> mistype "Some Vendor" as "SomeVendor" or "Some Vendoir" I may not
> notice, and then any report that filters on Description will be incomplete.
>
> Stan Brown
> Tehachapi, CA, USA
> https://BrownMath.com
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-- 
_
Richard Losey
rlo...@gmail.com
Micah 6:8
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Re: [GNC] Should one use Accounts Payable if a vendor is paid immediately ?

[Adrien Monteleone]

I was about to reply the same. I've never had an issue in many years of 
using GnuCash because I start typing a Payee/Payor and Autofill keeps my 
fingers/brain from flubbing the remainder. If Autofill appears to not be 
'responding' as I type someone I've entered many times before, that's a 
sure sign I've got a typo in the first 2–3 letters, so I can fix it 
before proceeding.


Of course, go ahead and raise a bill. There's no rule against it. The OP 
was about a quicker method. Regular transactions are the only option. 
(with caveats)


Regards,
Adrien

On 11/28/22 6:31 AM, Maf. King wrote:

I'd respectfully suggest that Autofill is your friend here; Typos in the Payee
should be fairly hard (but not impossible; your point is certainly taken!) to
get into place, once you are on more than one txn to any given vendor.


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Re: [GNC] Should one use Accounts Payable if a vendor is paid immediately ?

[Maf. King]

On Monday, 28 November 2022 11:19:56 GMT Stan Brown wrote:
> On 2022-11-27 19:37, Adrien Monteleone wrote:
> > Personally, I use the Description field for *all* of my transactions as
> > a Payor/Payee line. Actual descriptive info I put in the Notes and/or
> > Memo fields.
> > 
> > In that case, I can simply run a Transaction Report filtered on the name
> > of the Payor/Payee and see the desired activity.
> 
> The trouble with that is that the text fields aren't validated. It's
> fine if you never, ever, make a typo; but I'm not perfect. If I make a
> typo in an account name, I know it immediately and can fix it. But if I
> mistype "Some Vendor" as "SomeVendor" or "Some Vendoir" I may not
> notice, and then any report that filters on Description will be incomplete.
> 

I'd respectfully suggest that Autofill is your friend here; Typos in the Payee  
should be fairly hard (but not impossible; your point is certainly taken!) to 
get into place, once you are on more than one txn to any given vendor.

0.02
Maf.



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Re: [GNC] Should one use Accounts Payable if a vendor is paid immediately ?

[Stan Brown]

On 2022-11-27 19:37, Adrien Monteleone wrote:
> Personally, I use the Description field for *all* of my transactions as
> a Payor/Payee line. Actual descriptive info I put in the Notes and/or
> Memo fields.
> 
> In that case, I can simply run a Transaction Report filtered on the name
> of the Payor/Payee and see the desired activity.

The trouble with that is that the text fields aren't validated. It's
fine if you never, ever, make a typo; but I'm not perfect. If I make a
typo in an account name, I know it immediately and can fix it. But if I
mistype "Some Vendor" as "SomeVendor" or "Some Vendoir" I may not
notice, and then any report that filters on Description will be incomplete.

Stan Brown
Tehachapi, CA, USA
https://BrownMath.com
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Re: [GNC] Should one use Accounts Payable if a vendor is paid immediately ?

[Adrien Monteleone]

Either you use the business features for a transaction or you don't.

You can certainly enter a *regular* transaction for any entity, 
including vendors you normally raise a bill for first, but as noted, 
those regular transactions won't show up in a Vendor Report.


But you can certainly pay such entities immediately and still get a 
report on that activity.


Personally, I use the Description field for *all* of my transactions as 
a Payor/Payee line. Actual descriptive info I put in the Notes and/or 
Memo fields.


In that case, I can simply run a Transaction Report filtered on the name 
of the Payor/Payee and see the desired activity.


Regards,
Adrien

On 11/27/22 3:56 PM, Dr. David Kirkby wrote:

How would I do that? If I go to Business -> Vendors -> Vendors Overview
I can see the list of vendors, but don't know how to process a transaction
that pays them directly.



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Re: [GNC] Should one use Accounts Payable if a vendor is paid immediately ?

[Stan Brown]

I'm not comfortable with "best", because it depends on what reports you
want ultimately. But the two transactions I gave in my earlier mail
preserve maximum flexibility, and for that reason I personally do it
that way.

Stan Brown
Tehachapi, CA, USA
https://BrownMath.com

On 2022-11-27 16:32, Dr. David Kirkby wrote:
> On Mon, 28 Nov 2022 at 00:05, Stan Brown  > wrote:
> 
> It may be a failure of imagination on my part, but every way I can think
> of to report a combination of transactions, some of which are in a
> particular account and some of which are not, is a lot more work than
> just having the desired transactions in the account in the first place.
> 
> So I think you are suggesting that posting a bill and immediately paying
> is probably best. Have I understand you correctly?
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Re: [GNC] Should one use Accounts Payable if a vendor is paid immediately ?

[Dr. David Kirkby]

On Mon, 28 Nov 2022 at 00:05, Stan Brown  wrote:

> It may be a failure of imagination on my part, but every way I can think
> of to report a combination of transactions, some of which are in a
> particular account and some of which are not, is a lot more work than
> just having the desired transactions in the account in the first place.
>
> Stan Brown
> Tehachapi, CA, USA
> https://BrownMath.com


So I think you are suggesting that posting a bill and immediately paying is
probably best. Have I understand you correctly?

> 

-- 
Dr. David Kirkby,
Kirkby Microwave Ltd,
drkir...@kirkbymicrowave.co.uk
https://www.kirkbymicrowave.co.uk/
Telephone 01621-680100./ +44 1621 680100

Registered in England & Wales, company number 08914892.
Registered office:
Stokes Hall Lodge, Burnham Rd, Althorne, Chelmsford, Essex, CM3 6DT, United
Kingdom
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Re: [GNC] Should one use Accounts Payable if a vendor is paid immediately ?

[Stan Brown]

It may be a failure of imagination on my part, but every way I can think
of to report a combination of transactions, some of which are in a
particular account and some of which are not, is a lot more work than
just having the desired transactions in the account in the first place.

Stan Brown
Tehachapi, CA, USA
https://BrownMath.com

On 2022-11-27 14:43, Dr. David Kirkby wrote:
> On Sun, 27 Nov 2022 at 20:57, Stan Brown  > wrote:
> 
> What David says is true.
> 
> However, if you create two transactions:
>       Debit to Expense:something
>       Credit to AP:this vendor
> and
>       Debit to AP:this vendor
>       Credit to Assets:Cash or bank account
> then the vendor's account will show the whole history of your purchases
> from that vendor.
> 
> I think either way is valid from a strictly accounting standpoint. The
> choice comes down to what reporting you think you might want later.
> 
> Stan Brown
> Tehachapi, CA, USA
> https://BrownMath.com 
> 
> 
> Being able to see all transactions from a vendor would be nice. Can I
> only get that if I post a bill, then pay it?
> 
> Dave 
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Re: [GNC] Should one use Accounts Payable if a vendor is paid immediately ?

[Dr. David Kirkby]

On Sun, 27 Nov 2022 at 20:57, Stan Brown  wrote:

> What David says is true.
>
> However, if you create two transactions:
>   Debit to Expense:something
>   Credit to AP:this vendor
> and
>   Debit to AP:this vendor
>   Credit to Assets:Cash or bank account
> then the vendor's account will show the whole history of your purchases
> from that vendor.
>
> I think either way is valid from a strictly accounting standpoint. The
> choice comes down to what reporting you think you might want later.
>
> Stan Brown
> Tehachapi, CA, USA
> https://BrownMath.com


Being able to see all transactions from a vendor would be nice. Can I only
get that if I post a bill, then pay it?

Dave
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Re: [GNC] Should one use Accounts Payable if a vendor is paid immediately ?

[Dr. David Kirkby]

On Sun, 27 Nov 2022 at 20:43, David Cousens 
wrote:

>
> David,
>
> Accounts Receivable and Accounts Payable are really intended for the
> situation
> where the vendor is extending credit to you or vice versa. It's main
> advantage
> is as a tool to manage what is owed to you and what you owe to maintain
> cash
> flow.
>

Yes, I thought that was the purpose, which is why I thought they were not
appropriate if paid immediately.

If you receive payment immediately all you need is to create a transaction
> debiting your relevant bank account and crediting the appropriate income
> account. If there is some external record you can use the ability to
> associate
> an image file of it with the transaction.  Similarly if you pay a vendor
> immediately you can simply create a transaction crediting your bank
> account and
> debiting the appropriate expense account and associate an image of the
> receipt
> with the transaction.
>

How would I do that? If I go to Business -> Vendors -> Vendors Overview
I can see the list of vendors, but don't know how to process a transaction
that pays them directly.


>
> David Cousens
>
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Re: [GNC] Should one use Accounts Payable if a vendor is paid immediately ?

[David Cousens]

Stan,

Nice point.

David.

On Sun, 2022-11-27 at 12:57 -0800, Stan Brown wrote:
> What David says is true.
> 
> However, if you create two transactions:
>   Debit to Expense:something
>   Credit to AP:this vendor
> and
>   Debit to AP:this vendor
>   Credit to Assets:Cash or bank account
> then the vendor's account will show the whole history of your purchases
> from that vendor.
> 
> I think either way is valid from a strictly accounting standpoint. The
> choice comes down to what reporting you think you might want later.
> 
> Stan Brown
> Tehachapi, CA, USA
> https://BrownMath.com
> 
> On 2022-11-27 12:43, David Cousens wrote:
> > If you receive payment immediately all you need is to create a transaction
> > debiting your relevant bank account and crediting the appropriate income
> > account. If there is some external record you can use the ability to
> > associate
> > an image file of it with the transaction.  Similarly if you pay a vendor
> > immediately you can simply create a transaction crediting your bank account
> > and
> > debiting the appropriate expense account and associate an image of the
> > receipt
> > with the transaction.
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Re: [GNC] Should one use Accounts Payable if a vendor is paid immediately ?

[Stan Brown]

What David says is true.

However, if you create two transactions:
  Debit to Expense:something
  Credit to AP:this vendor
and
  Debit to AP:this vendor
  Credit to Assets:Cash or bank account
then the vendor's account will show the whole history of your purchases
from that vendor.

I think either way is valid from a strictly accounting standpoint. The
choice comes down to what reporting you think you might want later.

Stan Brown
Tehachapi, CA, USA
https://BrownMath.com

On 2022-11-27 12:43, David Cousens wrote:
> If you receive payment immediately all you need is to create a transaction
> debiting your relevant bank account and crediting the appropriate income
> account. If there is some external record you can use the ability to associate
> an image file of it with the transaction.  Similarly if you pay a vendor
> immediately you can simply create a transaction crediting your bank account 
> and
> debiting the appropriate expense account and associate an image of the receipt
> with the transaction.
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Re: [GNC] Should one use Accounts Payable if a vendor is paid immediately ?

[David Cousens]

David,

Accounts Receivable and Accounts Payable are really intended for the situation
where the vendor is extending credit to you or vice versa. It's main advantage
is as a tool to manage what is owed to you and what you owe to maintain cash
flow. 
If you receive payment immediately all you need is to create a transaction
debiting your relevant bank account and crediting the appropriate income
account. If there is some external record you can use the ability to associate
an image file of it with the transaction.  Similarly if you pay a vendor
immediately you can simply create a transaction crediting your bank account and
debiting the appropriate expense account and associate an image of the receipt
with the transaction.

David Cousens



On Sun, 2022-11-27 at 18:56 +, Dr. David Kirkby wrote:
> I have put a list of vendors into GnuCash. In the case of a couple of
> companies (RS and Farnell), I do have business accounts with, but
> previously I just paid with a debit card. For most other vendors, they want
> payment in advance. For example, anything I buy from eBay with buy-it-now
> usually has to be paid for immediately.
> 
> I appreciate that if a vendor gives one credit, the transaction will go
> into the Accounts Payable, then one later pays the bill. But what should I
> do with vendors which are paid immediately? I can see I could process the
> payment as
> 
> 1) Post Bill
> 2) Pay Bill immediately afterwards.
> 
> but I'm wondering if there's a more direct way of paying someone directly
> from the bank account.
> 
> Dr David Kirkby Ph.D
> Email: drkir...@kirkbymicrowave.co.uk Web:
> https://www.kirkbymicrowave.co.uk/
> Kirkby Microwave Ltd (Tel 01621-680100 / +44 1621-680100)
> Stokes Hall Lodge, Burnham Rd, Chelmsford, Essex, CM3 6DT.
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[GNC] Should one use Accounts Payable if a vendor is paid immediately ?

[Dr. David Kirkby]

I have put a list of vendors into GnuCash. In the case of a couple of
companies (RS and Farnell), I do have business accounts with, but
previously I just paid with a debit card. For most other vendors, they want
payment in advance. For example, anything I buy from eBay with buy-it-now
usually has to be paid for immediately.

I appreciate that if a vendor gives one credit, the transaction will go
into the Accounts Payable, then one later pays the bill. But what should I
do with vendors which are paid immediately? I can see I could process the
payment as

1) Post Bill
2) Pay Bill immediately afterwards.

but I'm wondering if there's a more direct way of paying someone directly
from the bank account.

Dr David Kirkby Ph.D
Email: drkir...@kirkbymicrowave.co.uk Web:
https://www.kirkbymicrowave.co.uk/
Kirkby Microwave Ltd (Tel 01621-680100 / +44 1621-680100)
Stokes Hall Lodge, Burnham Rd, Chelmsford, Essex, CM3 6DT.
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