[GNC] Cash Accounting Method
rshepard at appl-ecosys.com
Sun Sep 12 08:41:10 EDT 2021
On Sat, 11 Sep 2021, 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
> I highly recommend an enhancement to add an accounting method option for
> accrual or cash method.
Permait me to disagree. I've run my sole professional services practice for
29 years using GnuCash for ... many, many years. For both personal and
Years ago I had the same perception as you. Discussing this with my
accountant I learned how to use cash accounting.
When I send an invoice to a client (typeset using LaTeX, not generated by
GnuCash) I don't enter it into Accounts Receivable until I receive the check
(or wire transfer). When I have the money I enter the invoice, post it, and
pay it recording the payment details.
Works like a charm. If you have more questions ask.
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