[GNC] Accounts Receivable

[David Cousens]

Teresa

GnuCash is explicitly double entry accounting. 

When you create an invoice and Post it, it simultaneously creates a debit
entry to the A/R account and a credit entry to a specified income
account.When you create an invoice with The Business->Customer->New Invoice
dialog, the New Invoice window allows you to enter the information required
for the invoice and when you press next the invoice opens as a tab in the
main window. As the debit entry to A/R is mandatory for an invoice, you do
not have to explicity enter it.  You will see a column, Income Account and
on the open line a down arrow which allows you to select, the income account
the credit entry will be made to. If you then enter the amounts in the
remaining columns and post the invoice another dialog comes up  which asks
you for the Post To Account, again with a drop down list. If Assets:Accounts
Receivable does not appear in the box by default, then you possibly haven't
created the accounts necessary for the business features to work. You will
have to cancel the Post dialog.

Then select the Accounts tab in the main window, then select Actions->New
Account Heirarchy from the Actions menu item. Click Next then select the
currency to be used (your default book currency) and Next to get to the
Choose accounts to create entry. If you hit the Clear All button and then
check the box against the Business Accounts then hit Next it will add the
business accounts required to your Account tree.

If you then go back to the Invoice tab and Post it again, you should get
Assets:Accounts Receivable appearing as the default account to post the
invoice to.  When you hit the OK button, it will create the debit and credit
entries in the A/R account and the selected income account.

Note the business features can also include sales tax/GST . You have to set
up the appropriate tax tables for this to be usable. See the Help Manual
https://www.gnucash.org/docs/v3/C/gnucash-help/chapter_busnss.html and
Tutorial and Concepts
https://www.gnucash.org/docs/v3/C/gnucash-guide/index.html guide entries for
the Business features for more detail. The wiki also has some additional
information:
https://wiki.gnucash.org/wiki/GnuCash_Quick_Start_Guide_For_Business_Users
https://wiki.gnucash.org/wiki/Business_Features_Issues

David Cousens



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David Cousens
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