Don't use the transaction report. Use the P&L or Income Statement. (same
report, different names)
If you are working on a cash basis, you'll have to make adjusting
entries or else don't post invoices till you receive payment.
If you are on an accrual basis, then no adjusting or delayed posting is
necessary. You post when the work is done or when the goods change hands.
Regards,
Adrien
On 1/4/22 6:06 PM, Daffy Duck wrote:
Hello,
I'm having an issue in transaction report in easily seeing gross income
for the year.
Specifically:
1. I have Income:Sales and when I do an invoice, I direct income to go
there.
2. Sometimes clients reimburse me for postage charges, so that does not
go to income:sales but is in expenses:reimbursed expenses
3. Many times at the end and the beginning of the year, an invoice is
not closed, so an invoice I opened 11/20 may still be being paid
throughout early 2021.
What is the best way to do this in order to be able to see gross sales
for the year, as in, how much income was actually received for
sales(not expenses), etc.
I have near the correct amount with the transaction report showing
income:sales and limiting it to 2021, but it:
a. Does not capture money from previous years' invoices that is still
being paid and
b. Assumes invoices that are created in 2021 are fully paid off.
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