How to write off bad credit
Wouter van Marle
wouter at squirrel-systems.com
Fri Jan 16 01:50:18 EST 2009
That's yet another idea... and the main problem I have is that it does
not show the transactions in the customer's report. This is really
important to me as I must keep track of how much I owe them: the payback
is in instalments, and may also be cancelled by a new invoice to them
for a new sale.
I do not keep an A/R for each and every customer, I consider that too
much work. I rather use the reports to check on customers, that is also
more transparent when I have to show it to the customer.
I'm afraid GnuCash simply can not do here what I need it to do.
For the business I'm anyway going to move to SQL Ledger, mainly for the
web based interface (not limited to a single computer/location), and the
better multi-currency support which is something that I really need to
work better: buying in EUR, selling in USD, and the base currency is
HKD... it just doesn't go well enough in GnuCash. I hope that package
can handle this kind of transactions better.
For my personal accounting I don't have this kind of issues so that's
going to be GnuCash all the way, I know it so well after six years and
it's a great solution for the basic stuff. SQL Ledger is overkill there.
On Thu, 2009-01-15 at 22:11 -0800, Cam Ellison wrote:
> Wouter van Marle wrote:
> > Actually I don't use GnuCash to print invoices, so the first part I do
> > already: unpost the invoice, add an extra line for the claim discount,
> > post it again. So now this supplier has overpaid me:
> > Original invoice: $10,000
> > Payments done: $10,000
> > Balance: $ 0
> > Now add $1200 discount:
> > New invoice: $ 8,800
> > Payments done: $10,000
> > Balance: ($1,200)
> Do not create a new invoice. Unpost the original and show a discount in
> it - let's say it is a percentage of the total. Using your figures, it
> would be (ASCII equivalent of the unposted invoice):
> Date Invoiced? Description Action
> Income Account Quantity Unit Price Discount
> Tax Subtotal Tax
> 2009-01-15 X Services Project
> Revenue 1 10,000.00 %
> < 12 8,800.00 0.00
> Then post it. Now with the payment having been received for the full
> amount, the customer has a $1200 credit, and the invoice is cleared.
> You should be able to now make the refund to the customer, with the
> appropriate A/R account as the other account in the transaction (that
> is, from chequing account to A/R). I have tried this on my own system
> and it works.
> > The trouble with GnuCash is that it doesn't allow for returning
> > payments... very irritating in this case. I don't see any way how to
> > clear it: can't post negative invoices and pay them with a negative
> > amount or so... customer and vendor are also fully separate (in my
> > situation vendor and customer is sometimes the same - I sometimes buy
> > from and sell to the same company!).
> I agree - it doesn't allow for it. This is the way around it - at least
> it seems logical to me. There's no need to post another invoice, nor a
> negative one.
> As the saying goes: YMMV - but it should work
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