65-day distributions and other prior year transactions

[derrjd]

John or anyone else,

I am trying to set up a liability account to use to "flow the distribution
through" so that the trust distributions of 2016 income will be accounted
for even if they are made in 2017 (which the IRS allows). I have created a
liability account call "Liabilities: Unpaid Income Distributions". Where
does the other side of the transfer go? To an expense account? Would I use
the same expense account I presently use when I make a distribution, i.e.
"Expenses: Distribution of Income"?

If this is correct, do I have to enter the dividend income twice, once as
income and once as a liability, or can I enter it all on one register
("Income: Dividend"/"Asset: Cash, Income" and "Liabilities: Unpaid Income
Distr."/"Expenses: Distribut.....")???

Thanks for your help,
David



--
View this message in context: http://gnucash.1415818.n4.nabble.com/65-day-distributions-and-other-prior-year-transactions-tp4690692p4690794.html
Sent from the GnuCash - User mailing list archive at Nabble.com.