[GNC] Have I screwed up with my Accounts Payable and Accounts Receivable?

[Adrien Monteleone]

Dave,

First off, let's get this out of the way:

I noticed in your last screenshots, the window title bar is included 
with a 'Reconciled ...' file name. Name your file whatever you want, but 
I can imagine that will get tedious as time goes on to keep renaming the 
file. (but I suppose if you're making copies and proceeding from there, 
that is an interesting strategy)

The more concerning part is that the file name has a 'date stamp' after 
'gnucash' which indicates, at some point you opened up a backup file 
rather than your main file. This again, may be intentional, but if not, 
you have a bit of a mess on your hands as you may inadvertently enter 
data in two different files.

now, on to the show...
-----

I tried to duplicate what I could from your screenshots & description 
but I can't seem to duplicate the issue. (I eventually did, but keep 
reading)

I did not use Trading Accounts as you indicated you do not either.
I set up the AP accounts just as you have them.
I set up Checking accounts in each of the three currencies.
I created 3 vendors, one in each currency.

I created a bill for RS Limited in GBP to a GBP expense account and 
didn't pay it.

I created a bill for PorkBun in USD to a GBP expense account and paid it 
in full. This asked me for an exchange rate since the Vendor was in USD 
but the Expense was in GBP. I used 1.16554 USD-GBP as that would produce 
a $6.90:£5.92 ratio. I then paid this bill in full with funds from the 
Checking USD account.

I ran a Vendor Report for PorkBun which matches your results.

I opted to not yet create a bill in HKD as I'd need a bit more info.

I ran a Payable Aging Report which only shows the GBP amount due on that 
first unpaid invoice.

Nothing shows up for PorkBun in any currency on my Aging report.

I turned on Options > Display Columns > Transaction Links > Detailed to 
confirm the bill was paid in full.

Also, the Balance for Accounts Payable USD shows zero.

At this point, I'm a bit stumped.

For now, I'd suggest reviewing your vendors currency assignments and 
double checking the currency of your bill payments.

------

Update, I just tested paying the USD invoice in GBP.

If I chose a 1:1 FX it worked as above.

If instead, I chose to enter the FX as an exact GBP debit amount of 
-£5.92, that left a balance of 98¢ just like your current book.

I'm guessing you need to pay that invoice in USD. If you didn't, I'm not 
sure how to enter it correctly and get it to clear. (with the 1:1 
example, the debit to the UK Checking was -£6.90 which would have been 
too much)

Though I must say, I expected when I entered the FX as a debit amount it 
*should* have worked.

------

Low and Behold - Trading Accounts are required here.

I then re-tested the payment in GBP from the UK Checking account to the 
USD PorkBun invoice, it again asked me for the FX rate which I entered 
as a fixed debit of -£5.92.

I then examined the UK Checking account which shows the Trading Splits 
added automatically.

The Vendor Report for PorkBun shows fully paid as before.

The Payable Aging Report shows nothing for PorkBun as expected.

-----

Thus, if you are paying in the SAME currency as the vendor/invoice/AP 
account (which all have to match, Expense line items do not) then you do 
not need TradingAccounts.

If you are paying using a DIFFERENT currency, you need to have them 
turned on via File > Properties.

I didn't go digging in the Documentation to see if this is mentioned, 
but if not, you might want to file a bug on that for improvement in time 
for v5.0

-----

Fix:

Delete the PorkBun payment and re-entered properly as a payment in USD 
or if it were in GBP to a USD Vendor, turn on Trading Accounts, then 
re-enter the payment in GBP with the FX as the fixed debit amount.

If this messes with a reconciled period of the UK Checking account, 
simply re-reconcile the account as of the last reconciliation date, 
check off that one payment transaction which should get you back to a 
zero difference and finalize.

I suspect you'll need to do something similar with the HKD vendor if 
they were paid in GBP too.


Regards,
Adrien

On 1/25/23 2:36 PM, Dr. David Kirkby wrote:
> On Wed, 25 Jan 2023 at 20:35, Dr. David Kirkby <
> drkirkby at kirkbymicrowave.co.uk> wrote:
> 
>>
>> I forgot one of the attachments.
>>
> 
> The money shown outstanding to RS Components Ltd, in GBP, is correct. It's
> the USD and HKD ones that are wrong.