[GNC] Cash Basis Accounting

[R. Victor Klassen]

I normally re-post invoices to the 1st of the year if not paid before, and any bills that are due and paid after the year end I also post to the 1st.  
Rarely do I find something that needs to be moved the other direction (although it is possible, I just can’t think of an instance off hand).

The date opened and the dates on the entries of the invoices/bills can still remain attached to reality, only the posting dates need to be fiddled with.

The method in the wiki works if you are really good at keeping A/P and A/R correct and up to date.  i.e. never receive payment without assigning it to an invoice
or properly categorizing the split, and never pay a bill without linking the payment to the bill.  In an ideal world that works all the time. Just not in my experience.

> On Jan 4, 2022, at 5:23 PM, Don Gray <holyfeld at att.net> wrote:
> 
> For 2021 year end account I need to generate a profit/loss report. No problem as a standard report exists.
> 
> The problem stems from the report being off by several thousand dollars as I’ve posted invoices but not received the payments.
> 
> Searching the internet I found https://wiki.gnucash.org/wiki/Cash_Based_Accounting <https://wiki.gnucash.org/wiki/Cash_Based_Accounting>. Is this still the current way of handling Cash basis accounting?
> 
> Don
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