[GNC] Income statement incorrect

[Adrien Monteleone]

Sounds like a lot of work. Would simply not posting the bills/invoices until actually paid not accomplish the proper timing of when the transactions hit the books? (yes, you do lose the ‘reminders’ feature in that case, but unless that is critical, it is a small price for not having to maintain 2 books)

Regards,
Adrien

> On Aug 4, 2019, at 10:37 AM, Mike or Penny Novack <stepbystepfarm at comcast.net> wrote:
> 
> 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