Accounts Receivable Question

Maf. King maf at
Wed Nov 11 04:40:21 EST 2009

On Wednesday 11 November 2009 06:52:18 Derek Atkins wrote:
> Hi,

> Really this is just a reporting issue.  When the period switches over
> you just need to substract out the outstanding Receivables from your
> Income (and remember that as your 'starting' value for the next period.
> You can still keep track of it all on an "accrual" basis.


I've had a thought about this.  You _could_ do something like this, to avoid 
having to juggle your reports.

1. An invoice is created in A/R - the transfer account is Future_Income (or 
unrealised_income, or something which makes sense to you).  When you run the 
reports, just make sure that you exclude this Future_income account, and it 
won't contribute to  your cash totals.

2. When the invoice is actually paid, move the transaction from being in the  
A/R & Future_Income accounts to Bank & Income accounts.

Hope that makes sense,

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