Accounts Receivable Question
maf at chilwell.net
Wed Nov 11 04:40:21 EST 2009
On Wednesday 11 November 2009 06:52:18 Derek Atkins wrote:
> Really this is just a reporting issue. When the period switches over
> you just need to substract out the outstanding Receivables from your
> Income (and remember that as your 'starting' value for the next period.
> You can still keep track of it all on an "accrual" basis.
I've had a thought about this. You _could_ do something like this, to avoid
having to juggle your reports.
1. An invoice is created in A/R - the transfer account is Future_Income (or
unrealised_income, or something which makes sense to you). When you run the
reports, just make sure that you exclude this Future_income account, and it
won't contribute to your cash totals.
2. When the invoice is actually paid, move the transaction from being in the
A/R & Future_Income accounts to Bank & Income accounts.
Hope that makes sense,
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