[GNC] Account for contracted grain sales?

[Nate Bargmann]

I am just getting started with GnuCash (should have done so long ago...)
and my main occupation these days is farming.  I've been using a simple
cash accounting system all of these years and I am able to configure my
accounting in GnuCash to get an even more realistic view of my finances
as time goes on.  Thank you!  In the future, i.e. next year, I will be
taking on the role of treasurer for our church which is the principal
reason I started with my personal finances so as to gain familiarity
with GnuCash.

One thing I have done for years is enter into a deferred payment
contract with the cooperative that buys my grain.  In general the grain
is sold as of a given date with payment at some future specified date.
In my case I generally defer payment until the beginning of the coming
calendar year.  What this represents, at least to me, is a transfer of
the title of my asset (grain) to the cooperative immediately and then
sometime in the future a payment from the cooperative for my asset.

Other than my copies of the contract(s), I've not tracked this in any
way, which I would now like to do.  At first I thought of structuring
this as an Account Receivable but skimming through that section of the
manual, it doesn't look like quite the right fit.  As I see it, I have a
sort of promissory note that doesn't pay interest, if that makes any
sense, that in early January will be paid by the cooperative.  It is
future income but I don't want it listed as such until next year.

Of course, I could always let it ride until the funds are deposited in a
couple of months.

TIA

- Nate

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"The optimist proclaims that we live in the best of all
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