[GNC] Cash Accounting Method

[Maf. King]

Just £0.02 that came to mind upon reading your message, Steve.

If you are on Cash basis, then (strictly speaking) there is no need to ever 
have A/P or A/R accounts and ageing in your books.  If you want to create your 
invoices in GC, have you considered trying a workflow whereby you do not post 
your invoices into GC until the actual payment date?  I think you will still 
be able to "print" invoices from GC, but the reporting will be fully cash 
basis?  

Or, of course, you could create your invoices outside of GC (Writer, Calc 
etc), and just treat them as simple (ie non-invoice) txns in GC, on the 
relevant date - though I appreciate this may be doubling the data entry.

As I said, this is just £0.02, and it may not work for you in practice.... I 
will add that I managed to make GC do Accrual basis using the last version 
before the business subsystems were written (by Derek - about v1.6, IIRC), so 
it doesn't seem to me correct to suggest that GC "can't" do cash basis, as 
that was default behaviour in the early days.

Maf.


On Sunday, 12 September 2021 00:39:30 BST Steve Morrow wrote:
> I spent much of today evaluating GnuCash for use with my U.S. based small
> business. I found it to be robust in its functions.
> 
> 
> 
> Unfortunately, it only supports the accrual accounting method (income and
> expense recognized when invoiced or billed).  My business uses cash
> accounting method (income and expense recognized at time of receipt or
> payment).
> 
> 
> 
> I highly recommend an enhancement to add an accounting method option for
> accrual or cash method.
> 
> 
> 
> This makes a big difference in reporting!
> 
> 
> 
> Steve Morrow
> 
> 
> 
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