Accounts Receivable payments for taxes

R. Victor Klassen rvklassen at gmail.com
Fri Mar 22 13:23:04 EDT 2013


There is an outstanding feature request for allowing switching from accrual-based to cash-based accounting.  

It currently is not highly ranked, but you could vote for it.
 
On 2013-03-22, at 10:45 AM, Derek Atkins wrote:

> Hi,
> 
> Richard Geddes <richardcgeddes at gmail.com> writes:
> 
>> Hello,
>> 
>> Gnucash 2.4.10, Linux.
>> 
>> I've been using the A/R to invoice and generate aging reports without
>> issues.
>> 
>> When I generate a new invoice, I select an Income Account for each line
>> of the invoice ( Income:Sales:xxxx - xxxx would be a company for further
>> breakdown).
>> 
>> As soon as I post the invoice, an entry in the Income:Sales:xxxx account
>> is created with the date of the invoice.
>> 
>> When I post a payment for an invoice, an entry is created in my bank
>> account and in the A/R account.
>> 
>> Because there is a lag (up to 2 months) of payment, at the end of the
>> year, invoices generated in the previous year are paid in the following
>> year.
>> 
>> When I tag an Income:Sales:xxxx account as tax related, the Tax Report
>> picks up the invoice dates and sums, not the actual payment dates and sums.
>> 
>> Is there a way to get A/R to generate an entry into Income:Sales:xxxx
>> when the payment is made or a Tax Report that only considers payments
>> made on invoices?
> 
> No.  Using the Business Features necessarily creates an Accrual-based
> accounting.  You need to manually convert from Accrual to Cash-based.
> 
>> Thanks
>> Richard
> 
>> Please remember to CC this list on all your replies.
>> You can do this by using Reply-To-List or Reply-All.
> 
> -derek
> 
> -- 
>       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
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