Fw: [SPAM] Re: gnucash-user Digest, Vol 85, Issue 28

[kevin lo]

thanks derek.

is there an alternative order to FIFO when processing invoivces?

On Thu, Apr 22, 2010 at 2:59 AM, Derek Atkins <warlord at mit.edu> wrote:

> Hi,
>
> kevin lo <kachiservice at gmail.com> writes:
>
> > Hi John
> >
> > If entries are made in the invoice and then you process payment
> >
> > how do you post the full amount to the bank account.
> >
> > do you have to run process payment twice, once for each invoice?
>
> If ONE customer pays you for multiple invoices at once you only need to
> Process Payment once for the total amount of the invoice.  Gnucash will
> automatically split the payment across the invoices in FIFO order.
>
> -derek
>
> > On Tue, Apr 20, 2010 at 10:39 PM, L Park <edog5948 at yahoo.com> wrote:
> >
> >>
> >>
> >>
> >>
> >> ----- Forwarded Message ----
> >> From: John Carter <john at jrcarter.com>
> >> To: L Park <edog5948 at yahoo.com>
> >> Sent: Sat, April 17, 2010 1:18:48 PM
> >> Subject: Re: [SPAM] Re: gnucash-user Digest, Vol 85, Issue 28
> >>
> >> On Sat, Apr 17, 2010 at 8:47 AM, L Park <edog5948 at yahoo.com> wrote:
> >> > Hi John,
> >> >
> >> > This is exactly what I want to do.
> >> > But how exactly do I "transfer that excess into A's receivables"?
> >> > How do I specify that the money goes against the Customer A invoice?
> >>
> >> If you are not using invoices to track customer billables:
> >> In the transaction where you received the payment from B, only the
> >> amount that he owes is debited to his receivables.
> >> You credit your bank account for the full amount. That leaves an
> >> imbalance in the amount that A owes.
> >> Debit that amount to A' receivables. This balances the transaction.
> >>
> >> Make a note in the credit line to the bank that the full amount is a
> >> payment for both A and B. Use invoice #s if available.
> >> In the debit line for A, make a note that the payment came from B.
> >> In the debit line for B, make a note that his payment included the
> amount
> >> for A.
> >>
> >> If you are making the entries in the invoice, this can be a little
> >> trickier.
> >> In that case, you will need a suspense account.
> >> Debit the amount that B owes into B's receivables, debit the amount
> >> that A owes into the suspense account. Credit the full amount to the
> >> bank.
> >> Then in the invoice for A, credit the suspense account and debit A's
> >> receivables.
> >>
> >> John Carter
> >>
> >>
> >>
> >>
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>
> --
>       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
>       Member, MIT Student Information Processing Board  (SIPB)
>       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
>       warlord at MIT.EDU                        PGP key available
>