[GNC] Income statement incorrect

[Derek Atkins]

Hi,

On Wed, July 31, 2019 1:03 pm, Rich Shepard wrote:
> On Wed, 31 Jul 2019, Adrien Monteleone wrote:
>
>> The type of service doesn’t matter. Certainly, there are professional
>> services who pre-bill and who use accrual instead of cash-basis
>> accounting. (such a situation is exactly what accrual accounting
>> handles)
>> That’s more a question for a CPA as to which is the best fit for you.
>
> Adrien,
>
> My business has been set as cash-based since 1993. That was not the
> question
> I asked, nor a reason to not have gnucash offer a cash-accounting option
> for
> reports.

It doesn't offer it because nobody has implemented it..  And part of that
is because implementing it is not all that straightforward.  For example,
let's say you have an Invoice that combines multiple different Income
accounts.  Now, the customer only pays part of that invoice.  How do you
divvy up the partial payment for Cash-based accounting?

It's been sitting open for 17 years exactly because trying to solve it
opens a can of worms.  So really, we say either:

1) You'll need to manually back out your AR and AP to convert from Accrual
to Cash, or
2) Don't use the Business Features.

Sorry, but that's where we are.  Personally, I use option #1.

> Rich

> Please remember to CC this list on all your replies.
> You can do this by using Reply-To-List or Reply-All.

-derek

-- 
       Derek Atkins                 617-623-3745
       derek at ihtfp.com             www.ihtfp.com
       Computer and Internet Security Consultant