Credit Note Alternatives

[Keith Fetterman]

I am considering using GnuCash's small business features for managing the
finances of a small non-profit corporation.  It looks perfect, except for
one important feature.  I need to be able to create credit memos, refund
customers and handle bill credits to vendors.  I have reviewed the GnuCash
documentation, Wiki and both the GnuCash users and dev mailing lists to
find out how to accomplish this.  I don't see anything in the GnuCash
application.  The closest thing I have found is Credit Note Wiki page:
http://wiki.gnucash.org/wiki/Credit_Notes

I am assuming this will handle credits for both customers (credit memos)
and vendors (bill credits) from what I've read in the Wiki.

I don't see when Credit Notes will become available on either the Wiki page
or on the road map for GnuCash.  Does anyone have an idea when this
functionality might be available?  I fear that it may be a long time based
on what I read in the GnuCash dev mailing list archives.  There was some
talk of it being in the 2.6 release, but nothing definite.

I have extensively played with GnuCash and I really like it.  What are my
alternatives for accomplishing credit notes for customers and vendors?  It
looks like accounts receivables and payables have been around awhile so
what are other users doing to get around this?

I did read one option, which is to go back and edit the original invoice or
bill.  This doesn't work very well in our case for customers because the
refunds may occur months after the original invoices were
generated/processed.  Plus it doesn't reflect what really happened, i.e.,
customer invoiced/paid this amount on date X and customer was refunded on
date Y.  If the original invoice is edited, then it looks like the customer
only paid the difference on date X, which doesn't reflect what really
happened.  Plus what happens if you need to close the books between these
times?

Please help.  Please post some suggestions on alternative ways to
accomplish credit notes for both customers and vendors.  I really
appreciate it.  GnuCash looks perfect us.

Thanks
Keith