[GNC] How to deal with income and invoices (at the end of the year)?

[Michael or Penny Novack]

On 2/26/2025 9:59 AM, Jan Vlug wrote:
> I do work in December. I think the Income should be booked in December 
> for taxes.
> But, I cannot send the invoice in December yet (because of specific 
> procedures with the customer).
>
> 1. When I set the post date of the Invoice after 31 December (when I 
> really sent the invoice) the date of the Income and Accounts 
> Receivable transactions will be booked in the new month (January). But 
> I want the income to be in the actual month of the work (December).
>
> 2. When I set the post date of the invoice on 31 December (which does 
> not corresponds with the real date when I sent the invoice), the 
> Income and Accounts Receivable transactions will be booked in the 
> month when the work was done (December), which from a tax perspective 
> seems more correct to me.
>
> I tend to go for option 2. But the invoice date in GnuCash is not 
> correct in that approach.
>
> How would you recommend to handle this situation? 

Not a gnucash question (not really). Why do you think (for tax purposes) 
what year you DO the work has any relevance? Is that what the tax rules 
of your jurisdiction specify? Please note I am NOT "qualified" to give 
accounting or tax advice, but IMHO whether using accrual or cash basis, 
when you do the work, make the widget, contract for a future sale of the 
widget, etc. might not be relevant.

Michael D Novack