Cash basis accounting
andrew at farwestbilliards.com
Wed Apr 27 17:28:19 EDT 2005
Derrick Ashby wrote:
> Derek Atkins wrote:
>>Quoting Derrick Ashby <daeroncs at fastmail.fm>:
>>>I suppose it depends what you mean by both "basic" and "accounting
>>>feature". Personally, I'd like to see the ability to use cash accounting
>>>rather than accrual accounting for business income and business taxes. I
>>>can't really convert our business fully to gnucash unless that happens.
>>That's purely a reporting issue; you just need to subtract your A/R from Income
>>and A/P from Expenses. It's really not hard to "fix" after the fact; it's just
>>that the current reports dont back-track for you.
>>I'll also note that by definition you can't do invoicing in a non-accrual basis.
>>By definition an invoice IS an accrual. It's just a question of how you
>>report it at the end.
> Cash accounting update:
> I created an Income->Receipts account, and am now entering an extra
> transaction to transfer the money from the Income->Sales account when
> the cheque appears. (I was already doing a similar thing for GST
> receipts). I now find that the Profit & Loss report will not allow me
> to exclude the Income->Sales account, which on a cash basis I don't want
> to include as income. This report appears to grab every subaccount of
> Income and Expenses whatever you select in Options.
I may be stating the obvious but, did you uncheck the "always use
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