[GNC] moving unpaid invoices between businesses?

[Michael or Penny Novack]

> I have a conundrum - I have historic unpaid invoices in one business 
> and would like to transfer them to another business.  Both 
> conceptually, how should I go about this, and practically how should I 
> go about this with two sets of gnucash accounts?
>
> I thought of issuing credit notes against the invoices in the business 
> I'm transferring from and then reissue them in the business I'm 
> transferring to - but, then that might let the recalcitrant debtors 
> off the hook.
>
> It seems like I'm selling the debt to the new business - so, similar 
> to selling the invoices to a debt collection service, perhaps?  That 
> would mean issuing new invoices from the old business to the new 
> business - but then, what are the new invoices for, the old invoices...
>
> This makes my head hurt; it must have been done before.
>
> Many thanks. 


Assume this is the year 1950 and so you are keeping your books the way 
they did back then, pen and ink on accounting ruled paper. How would you 
record this transaction? Assuming you had that clearly laid out, what 
difficulties are you having doing that using gnucash........

And yes I agree, similar to selling a receivable to a factor or debt 
collection service. The fact that you might be the owner of both is 
irrelevant. However the state/condition of the first business might be 
relevant. The state of CONTESTED invoices when a business id closing 
down or in bankruptcy proceedings will probably differ jurisdiction to 
jurisdiction.


Michael D Novack