Cash versus accruer accounting

[Andrew Sackville-West]

On Fri, 2 Dec 2005 06:57:51 -0500 (EST)
marc at osmium.mv.net wrote:

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> Hi -
> 
> I use gnucash for my small business bookkeeping. I use the business features. 
> For US tax purposes, I operate on a cash basis.
> 
> When I create an invoice, I associate the line items on the invoice against an 
> income account. The accounts receivable which invoices are posted to, and an 
> asset account.
> 
> When I run reports, such as profit & loss, I end up seeing data not based on 
> cash (e.g. when payment is actually received), but instead based on accruer 
> (e.g. when the invoice is initially posted).
> 
> What I would like to do is to change my method of using the system so that the 
> reports show a cash basis. So, my question is, how is that best achieved?

just off the cuff, you could NOT use an income account for the invoices, but some suspense account and then when payment comes in link it up to income account. 

It means an extra split in your deposits, but might do what you need.

A

> 
> Thanks in advance - Marc
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