Forgetting an unpaid invoice

[Englisch, Volker (NIH/NCI)]

I am not a CPA but a "write of" and "Afschrijven" (or in German
"Abschreibung") are pretty much the same. 

Thanks

Volker Englisch
Contractor - MSD, Inc.
phone: (301) 496-0102  (CIPS)
mailto:volker at mail.nih.gov



-----Original Message-----
From: Derek Atkins [mailto:warlord at MIT.EDU] 
Sent: Tuesday, November 30, 2004 10:29 AM
To: Jesse van Bekkum
Cc: gnucash-user at gnucash.org
Subject: Re: Forgetting an unpaid invoice


Jesse van Bekkum <bekkum at gmail.com> writes:

> Hi
>
> Sometimes it happens that you have sent a invoice, but it isn't paid.
> And when the amount of money is small it is better to forget it
> instead of spending time and money to solve it anyway. In holland,
> where I live, this is called "Afschrijven". How is this called in
> English, and what is the best way to do this in GNUCash?

Have an Expense account called "<Expense>:Afschrijven" and "process
payment" into this account.  At least, that would be what you SHOULD
do if the code let you do that -- I don't think it lets you process
a payment into an expense account, so you'll have to do it in two
steps.

First process the payment into some asset account.  It doesn't really
matter which one.  Then, go into the A/R account and change the
transfer account from this temporary asset account to the Expense
account.

This way your Income from the invoice and your expense from the
invoice will counterbalance.

-derek

PS: The only term I can think of in English is "write off" but I don't
know if that's the proper term.  Maybe a CPA can answer that ;)
-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
       warlord at MIT.EDU                        PGP key available
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