[GNC] Income statement incorrect

[Mike or Penny Novack]

On 8/3/2019 6:16 AM, Liz wrote:
> On Wed, 31 Jul 2019 09:10:02 -0700 (PDT)
> Rich Shepard <rshepard at appl-ecosys.com> wrote:
>
>> Would be nice to have a cash accounting option in addition to the
>> default accrual accounting option.
> Whether a business uses cash or accrual accounting in Australia is set
> by the tax authorities, so I am obliged to use cash accounting.
This is a common situation in many jurisdictions with certain sorts of 
businesses required to use either cash of accrual. The difficulty is 
that gnucash does not support PRODUCING invoices for cash based << in 
other words, simply producing an invoice but NOT entering transaction to 
A/R and income >>

That's why I am mentioning "multiple books". If I had to produce 
invoices, it is what I would do. Set up a virtual entity associated with 
the actual entity. This virtual entity would be "accrual" and so have 
A/R and income and it would produce the invoices to be sent out (and 
track which paid, which outstanding) but the A/R and income would 
otherwise be ignored << when invoice paid, a transaction in the main 
(cash books affecting cash and income >>

Michael D Novack