> From: Adrien Monteleone <[email protected]> > I receive a bill about a month in advance of the due date every six months for auto insurance. If I pay that bill early, or on time, I am gaining a ?pre-paid? asset to be used up over the next six months. My problem wasn?t using the bills feature to handle this, or the expensing (I just set up a scheduled transaction for that part) but that I couldn?t post the ?advance? bill without it posting to my assets right away. Yet, it isn?t an asset till I actually pay it. I was wanting to take advantage of the bills due reminder for this bill. I had to settle on waiting to post the bill until I actually make the payment and forgoing the reminder. That way, my assets weren?t inflated early. Otherwise, everything else works out fine.
Why not use your bank's bill-pay service to schedule the bill payment? At least in the US, such services are typically free, and in fact you make money because you don't have to use a stamp, not an envelope, or a paper check, all of which cost money to replace. When I get the bill -- and in my case it's almost two months in advance for six-month auto insurance -- I immediately schedule bill pay for the due date and then record: Debit: Assets » Prepaid Expenses » Auto Insurance Credit: Bank Accounts » Bank X Description: (Company) payment on (due date) Thus I don't have to remember to pay the bill, my total assets are not inflated, and I know that money is earmarked so I don't accidentally spend Bank X down to a balance that is still positive but not large enough to cover the scheduled payment. -- Regards, Stan Brown Tompkins County, New York, USA http://BrownMath.com http://OakRoadSystems.com _______________________________________________ gnucash-user mailing list [email protected] To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
