[GNC] Tracking UnPaid Bills

[Michael or Penny Novack]

On 3/16/2025 5:31 PM, flywire wrote:
> I understand this to be a request for Hybrid Accounting, basically a
> combination of Cash Accounting and Accrual Accounting. (Rental Income being
> the other side of the ledger tracking unpaid Invoices - Accounts
> Receivable).
>
> A bill you receive is a liability. From
> https://www.gnucash.org/docs/v5/C/gnucash-guide/chapter_accts.html#accts-types1

Accrual basis differs most from cash basis on the income side. On the 
expense side, less so. When you are billed for an expense (not  pre-paid 
or paid when service or good received) you either pay the bill or it 
becomes a liability. If accrual basis always first recorded as a 
liability and the paid (even if on same day). If cash basis can 
initially enter as a liability (and expense) as of its DUE DATE. In 
effect you might end up clearing this liability before it came into 
existence (pay in full before due date).

Michael D Novack