Accounting periods problem

Paul Schwartz pmjs1115 at yahoo.com
Tue Mar 11 11:54:20 EDT 2008



----- Original Message ----
> From: Wahur <vahur.lokk at gmail.com>
> To: James Kerr <jim at jkerr82508.free-online.co.uk>
> Cc: gnucash-user at gnucash.org
> Sent: Tuesday, March 11, 2008 8:24:27 AM
> Subject: Re: Accounting periods problem
> 
> Dear friends!
> I guess I must be explaining something in a completely wrong way, cause your
> answers completely miss the point of my question. Maybe its my language - I
> am not a native English-speaker. So I am very sorry for confusion.
> I do use accrual accounting, for sure, so payment date is completely
> irrelevant to my question. Having a degree in finance I also have no problem
> figuring out transactions I need. All the accounts have been set up just
> fine and they have been used successfully for a year.
> 
> Lets try once more.
> Bill should be identified by two data items - here in Estonia we use usually
> 'Issue date' and number (number alone is not enough cause documents from
> different issuers might match). Using Issue date is also convenient in case
> i need to compare paper trail with electronic record - I can just look at
> the bill and find it by the issue date.
> So I need to record it somehow.
> When I enter a bill in Gnucash, I post it to 'Issue date'. Right or wrong,
> but currently it seems to me its the only way.
> When I do that, many of my bills get accounted in a wrong month, because
> they are issued during the next month.
> 
> So my question is - if there is a way in gnucash to record a bill so it
> appears on a correct issue date AND still have it accounted in a correct
> accounting period.
> 
> 
> Wahur

A suggestion: Enter the bill in the proper period against an A/P liability; then the cash transaction goes against the liability. I think this is the proper way to deal with accrual accounting, but IANAA. :-)

Paul





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