Recording Income

[Alice Lee]

Are you saying accounts payable and meaning accounts receivable?  I am an accountant.  If you are keeping your record of donors in Gnucash then you could set up an account receivable (debit) for each donor with the credit to the proper income account. Then you would record a credit to the receivable for the amount and the offsetting entry to cash.  This would all be done at the same time for most donations.

I only make one entry for donations.  Dr to cash and cr to a donations income account.  I put the donor name in the general gournal.  There is a supplemental list which is made by the person who deposits the money.  That list is the donor, address, date and amount.

Either way gets the job done.

-----Original Message-----
From: gnucash-user [mailto:gnucash-user-bounces+alee212007=satx.rr.com at gnucash.org] On Behalf Of Edwin Humphries
Sent: Friday, February 20, 2015 11:08 PM
To: gnucash-user at gnucash.org
Subject: Recording Income

Hi,

I'm the Treasurer of a small religious group, not an accountant, and still a GnuCash newbie.

I'm trying to get my head around recording donations; I'm currently:

 1. When a contribution comes in, I raise an invoice. I can find it, but
    it's not recorded as Accounts Payable.
 2. When I bank it, I "Process Payment". I then see it as Accounts
    Payable (which I would have said by then it's not) and not as
    income. However, the amount appears in our Bank Account.

Either I'm getting something wrong in this process, or I'm missing a last step that transfer the amount from Accounts Receivable to Income.

Help, please :(

--
Regards,
Edwin Humphries
Mobile: 0419 233 051