Correct method for invoicing

[M Prindle]

Hi Derek,

Thanks for the walk through on this.  I process an invoice today and it 
all went smoothly.  I was pretty much on the right track, but didn't 
totally understand the flow.

Thanks again!

Mike

Derek Atkins wrote:
> Hi,
>
> Quoting M Prindle <mprindle at pobox.com>:
>
>> Hi everyone,
>>
>> I need some help with GNUCash invoicing.  This is the 3rd month that 
>> I've created an invoice and totally messed it up when I get the 
>> payment for it.  I need a process flow after the invoice is created 
>> and posted.  Here's what I know how to do so far.
>>
>> 1. Create an invoice for xyz customer for a job.
>>    What is the income account?  The account the money will be 
>> deposited in?
>
> It's the.. umm.. income account where the money comes from (e.g. 
> Income:Sales)
>
>> 2. Invoice is posted
>
> This creates the Income -> A/R transaction.
>
>> 3. Payment is received.  I then open the invoices window and select 
>> Process payment.
>>
>> From here on I'm pretty fuzzy.  The payment came in via paypal so I 
>> have to account for the paypal fee's also.
>
> Account for the fee separately.  Process the full payment (A/R ->
> Assets:Paypal) and then you can transfer from A:Paypal -> A:Bank
> and account for the Paypal fee.
>
>> If someone could help me with the process flow and the accounts to 
>> use that would be wonderful
>>
>> Thanks,
>>
>> Mike
>
>> Please remember to CC this list on all your replies.
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>
> -derek
>