Invoice and type of account

[Martin Mizur]

Hi
I'll try to give you an example:
1. Start with the contract, but I do not know how long the work will take, or 
not sure that will be paid after all
2. I get an advance
- Write it on account payables
3. Work in progress
4. Take another advance
- Write it on account payables
5. Invoice you, I want to record the total amount of the contract, but also 
both received advances.
- The income will account for the total amount of the contract
- On account payables want to derecognise both backup

-- if the account type Liabilities I can
-- if it type Payables I can't

Dne So 14. února 2015 01:15:57, Wm napsal(a):
> >I have a problem with writing an account to invoice items.
> 
> I don't know exactly what you mean.
> 
> > When you post the
> >
> >received advance should I book an item recognized in liabilities.
> 
> If you receive money in advance of work or services you are going to do 
> then it should normally be recorded as income.  Whether the other leg is 
> a liability or an asset depends on your arrangement with the other 
> party.
> 
> > In GnuCash
> >
> >is the type marked Payable. But this type of writing to the invoice is not
> >offered.
> 
> ...
> 
> >Can I use it when it is identified as a liability account.
> 
> I think you're asking about allocating payments to invoices.
> 
> >Why not use Payable account?
> 
> Because that is (if I understand the question) the money you owe people 
> and you can't go around cancelling it against money owed to you at 
> random.

-- 
Martin Mizur