[GNC] Tracking UnPaid Bills

[Griffin]

The method that is now working me is as follows.

When the bill arrives, create a transaction in the expense register, with the liability account as the other account. Increase the expense account by the value of the bill. This will also increase the balance of the liability. The liability balance will become more negative. This happens every time you receive a bill.

When you pay a bill, partially or completely, create a transaction in the chequing register, transferring the value paid out of the chequing, and into the liability account, thereby reducing the liability by the mount paid.

The liability account will track the balance of the unpaid bill.



On March 19, 2025 1:30:25 p.m. MDT, flywire <flywire0 at gmail.com> wrote:
>On Wed Mar 19 10:07:19 EDT 2025 griffin wrote:
>>
>> The transactions are working the way they are supposed to, so thank
>> you everyone who contributed to this topic.
>
>So how do you propose actually tracking unpaid bills? Recording a
>transaction doesn't do it. It would normally involve specific reports run
>frequently enough to manage payments due.
>
>Regards
>
>>