[GNC] Tracking UnPaid Bills

[G R Hewitt]

Probably the easiest method would be to set up the companies as suppliers,
using Gnucash's business function; when the bill comes in
enter it into their supplier account. Then when you make a payment record
it against the supplier as a part payment of the invoice.
You will then be able to see which suppliers are still owed money and how
much.

There are other means, such as using accrual accounts and no doubt other
list members will have ideas too.

On Sat, 15 Mar 2025 at 21:10, griffin <griffin at bernevyl.com> wrote:

> I think I'm starting to mess up my accounts.
>
> I use GnuCash for my home accounts. I know little/nothing about
> accounting practices, no-one will see my accounts, and they won't be
> audited.
>
> So far I have been paying bills by entering a transaction in the check
> register for the amount of the payment, and then using an expense
> account as the second account, Electricity for example.
>
> Chequing Register
> Date                 Description           Transfer
>      R    Deposit    Withdrawal     Balance
> 2025-02-02    PAY Electric & Gas - Direct Energy
> Expenses~CAD~House~Utilities~Direct Energy    N     60.00
> 138.96
>
> Electric Expense Register
> Date                Description         Transfer
> R    Expense    Rebate            Balance
> 2025-02-02    PAY Electric & Gas - Direct Energy
> Assets~CAD~ScotiaBank~Checking                          N 60.00
>                          157.39
>
> However, I am at a point in my life where I cannot always pay my bills
> in full, so I need to have a "balance owing" situation. I would also
> need to have a record of the value of the Electric bill. That is, I had
> an expense of $120 for the electric bill, but having paid $60, I still
> owe $60.
>
> Can I set things up as I am using GnuCashnow, so that after I've paid
> what I can there is still a debt showing, or do I have to change things
> and use liability accounts. If so, what would the process look like?
> Would it be like treating the electric bill as it were a credit card?
> How would I set that up?
>
> Thanks.
>

On Sat, 15 Mar 2025 at 21:37, G R Hewitt <hewittgr at gmail.com> wrote:

> Probably the easiest method would be to set up the companies as suppliers,
> using Gnucash's business function; when the bill comes in
> enter it into their supplier account. Then when you make a payment record
> it against the supplier as a part payment of the invoice.
> You will then be able to see which suppliers are still owed money and how
> much.
>
> There are other means, such as using accrual accounts and no doubt other
> list members will have ideas too.
>
> On Sat, 15 Mar 2025 at 21:10, griffin <griffin at bernevyl.com> wrote:
>
>> I think I'm starting to mess up my accounts.
>>
>> I use GnuCash for my home accounts. I know little/nothing about
>> accounting practices, no-one will see my accounts, and they won't be
>> audited.
>>
>> So far I have been paying bills by entering a transaction in the check
>> register for the amount of the payment, and then using an expense
>> account as the second account, Electricity for example.
>>
>> Chequing Register
>> Date                 Description           Transfer
>>      R    Deposit    Withdrawal     Balance
>> 2025-02-02    PAY Electric & Gas - Direct Energy
>> Expenses~CAD~House~Utilities~Direct Energy    N     60.00
>> 138.96
>>
>> Electric Expense Register
>> Date                Description         Transfer
>> R    Expense    Rebate            Balance
>> 2025-02-02    PAY Electric & Gas - Direct Energy
>> Assets~CAD~ScotiaBank~Checking                          N 60.00
>>                          157.39
>>
>> However, I am at a point in my life where I cannot always pay my bills
>> in full, so I need to have a "balance owing" situation. I would also
>> need to have a record of the value of the Electric bill. That is, I had
>> an expense of $120 for the electric bill, but having paid $60, I still
>> owe $60.
>>
>> Can I set things up as I am using GnuCashnow, so that after I've paid
>> what I can there is still a debt showing, or do I have to change things
>> and use liability accounts. If so, what would the process look like?
>> Would it be like treating the electric bill as it were a credit card?
>> How would I set that up?
>>
>> Thanks.
>>
>> --
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>>
>>
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>