Transaction Date Question

[Mike or Penny Novack]

I am not a professional tax advisor, so take this with the necessary 
grains of salt << though I did work in an industry (insurance) where the 
legal date of a payment could be very important. And what jurisdictions 
you are in might make a big difference.

I think you are wrong in both cases. A payment by check is legally yours 
when you receive it, not when you get around to depositing it, and if 
the check is mailed to you, that would be not the date delivered to you 
but the date of the postmark << when "constructive delivery" was made >>

The first case is often treated by having an "undeposited cash" account 
(treating a check that has arrived into your possession but that you 
haven't taken to the bank yet the same as if somebody handed you the 
payment in cash). Then when you get around to making the deposit, that 
transaction is just a transfer between two asset account.

Note that matters like this are mainly important around the end of a 
fiscal/reporting period.


Michael D Novack


On 1/9/2017 12:09 PM, James Bucklew wrote:
> Hello all,
>
> I'm a complete beginner to GnuCash and accounting software in general.  My
> issue is that I have need to have two different transaction dates for two
> different purposes.
>
> 1)  For paying a Gross Receipts Tax, I need to be able to have a set of
> book where the transaction date for a check for services is dated on the
> date that it is deposited in the bank.
>
> 2)  For Federal/State Tax, I need to have a set of books where the
> transaction date for the check for services is dated on the date of
> issuance of the check.  (Just of information: This will allow my 1099 forms
> to match up.)
>
> These two dates vary wildly .... I'm paid by insurance companies for
> services rendered ... the issuance date of a check may vary by 2-4 months
> from the time that I actually physically receive it in my bank account.
>
> Is there a way to do this easily in GnuCash without having to maintain (and
> fill in seperately) two completely seperate ledgers?
>
> Best regards and thanks in advance,
>
> James Bucklew
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