dealing with invoices and QIF imports

[Leigh Morresi]

Heya,

On Tue, 2008-05-27 at 10:50 -0400, Derek Atkins wrote:
> Hi,
> 
> Leigh Morresi <dgtlmoon at gmail.com> writes:
> 
> [snip]
> > So now now the payment is "Transfer account: Assets -> Checking" which
> > is all cool.
> >
> > now the part i dont understand
> >
> > I'm doing a QIF import from my bank, I have a structure as thus;
> >
> >
> > + Assets
> >   - Accounts Receivable
> > + Expenses
> >   - Computer Repairs
> > + Income
> >   - Consulting
> > + MyBank
> >
> > When I import a .QIF it asks me for an 'Account Name' so i enter
> > 'MyBank' - now i end up with a 'MyBank' entry in my account tree (whhich
> > is fine i guess? or should this be elsewhere?)
> No, you should set it to "Assets -> Checking"
> 

Well thats the thing, it's a textfield - not a select list, you mean i
should actually type in "Assets -> Checking" ? that's why i just typed
in "MyBank"

> > I tell it to put payments in the QIF import for monies for work i've
> > invoced for into "Income:consulting"
> 
> You should not import these transactions; if anything they should
> go against A/R, but the importer wont like that.

Ok so i should be "filtering" these out from my QIF file and use a human
to check their balance deposited into my bank account to "Process
payment" on the invoice? sounds reasonable to me

> 
> > Now when i view "Income:consulting" i see have duplicates of just about
> > everything, the "Transfer" field says either "Assets->A/R" or "MyBank"
> 
> Right..
> 
> > so it looks like my income:consulting is roughly twice that of what i
> > should be at.
> 
> Right..
> 
> > what am i doing wrong?? should i be deleting the items from my
> > "Income:consulting" that have a transfer of "MyBank" ? (so that
> > Income:consulting always shows my total income not includin the fact
> > that those invoices might not have been paid - altho this difference
> > *should* be sighted in accounts receivable?)
> 
> You duplicated your bank account (MyBank v. Assets -> Checking)
> You duplicated your income (Invoicing A/R v. QIF Import).
> 
> You'll need to delete your imported QIF transactions.
> 
> Going forward you'll probably need to delete your payment transactions
> because it's likely that you wont be able to mark them as duplicates.

Yeh that is what i was thinking, sounds like a good idea

> 
> > cheers
> >
> > leigh
> 
> > Please remember to CC this list on all your replies.
> > You can do this by using Reply-To-List or Reply-All.
> 
> -derek
> 

thanks

leigh

-- 
Leigh Morresi
+61401883741
dgtlmoon at gmail.com
http://dgtlmoon.com
skype: dgtlmoon