Income Report

[Mike or Penny Novack]

Vikas,

    What I think you are missing is the difference between accounting on 
the "cash" or the "accrual" basis and I believe the business features 
(like accounts receivable, invoicing, recording invoices as having been 
paid, etc.) are for the "accrual" method of accounting. Why? Because ti 
is more common for businesses to be on the accrual basis even if they 
are not required to be on that basis (and at least here in the US, many 
of them are required to be "accrual").

     Take a look at the documentation where it talks about "cash" vs 
"accrual" and if that isn't sufficient to explain it to you, obtain some 
elementary accounting books.

     However -- it may well be the case that the jurisdiction where you 
are located either allows or requires "cash" basis. I don't think 
gnucash provides for producing invoices except for "receivables" << in 
other words, something used when on the "accrual" basis >>. But somebody 
who knows more about these features can perhaps provide a definite answer.

Michael D Novack

>Hi,
>
>The situation:
>I raise invoice on my customer on some date,
>Customer pays the due on some other date.
>The payment is is two parts:  Some amount credited to my bank account and some 
>part (Typically 10%) deducted as tax (TDS - Tax Deducted at Source) and paid 
>to my account with Income Tax Department.
>The payment typically happens couple of months after the invoice is raised.
>
>I am looking for a report which tells me the invoices actually paid - not the 
>posted ones in a particular period.
>
>For example, I've raised, say 3, invoice, in one accounting period (1 April to 
>31 March, in India).  Two of the invoices are actually paid (Amount credited 
>to my bank account plus the amount credited to my Income Tax Account) in the 
>same accounting period.  The balance one is paid in subsequent accounting 
>period.
>
>I am looking for a report to tell me the amount credited in both my accounts - 
>Bank and Tax.  If I run a transaction report for particular period on the bank 
>or tax account I get the information about the amounts credited in these 
>accounts.  I am looking for report telling me the the amounts credited by 
>customer in both the accounts, in a particular accounting period.  
>
>I may probably be missing something obvious - but I AM missing it!
>
>Any help is appreciated.
>
>Thanks,
>Vikas Garud.
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