raw that last email if I knew how.
>
> Thanks,
> Roger
>
> Message: 8
> Date: Wed, 10 Apr 2019 16:16:19 -0500
> From: Adrien Monteleone
> To: GnuCash
> Subject: Re: [GNC] Posting a bad debt
> Message-ID:
> Content-Type: text/plain; charset=utf-8
nuCash mailto:gnucash-user@gnucash.org> >
Subject: Re: [GNC] Posting a bad debt
Message-ID: mailto:a51a3967-76c1-4363-a1c5-62376ac2b...@lusfiber.net> >
Content-Type: text/plain; charset=utf-8
Roger,
My apologies for any time wasted. I use my sub-account with manual
sfiber.net> >
To: GnuCash mailto:gnucash-user@gnucash.org> >
Subject: Re: [GNC] Posting a bad debt
Message-ID: <79e0f4f6-c7cf-4d6e-a82e-7eb9f0a04...@lusfiber.net
<mailto:79e0f4f6-c7cf-4d6e-a82e-7eb9f0a04...@lusfiber.net> >
Content-Type: text/plain; charset=utf-8
Ro
Roger,
My apologies for any time wasted. I use my sub-account with manual entries. I
see now the business features will not expose them in that payment drop down,
regardless of type. (but you can use those asset (not A/R) accounts from the
business features in line-items in bills/invoices as
,
Roger
Message: 9
Date: Wed, 10 Apr 2019 13:21:27 -0500
From: Adrien Monteleone mailto:adrien.montele...@lusfiber.net> >
To: GnuCash mailto:gnucash-user@gnucash.org> >
Subject: Re: [GNC] Posting a bad debt
Message-ID: mailto:ea723cf2-0aaa-44a6-ae91-0639721a1...@lusfiber.net>
Justin,
That's the point, you can't receive a payment for an invoice from an expense
account. GnuCash won't let you do it.
Thanks,
Roger
-Original Message-
From: Justin Haynes
Sent: Tuesday, April 9, 2019 1:40 PM
To: rmom...@gmail.com
Cc: GnuCash
Subject: Re: [GNC] Posting a bad
Roger,
That is correct and likely the source of the discrepancy in understanding how
to treat bad debts and the meaning of ‘revenue'.
Under accrual accounting, revenue is booked when it is earned, collection is a
separate event.
The business features of GnuCash were designed for accrual based
At this point I’ll simply suggest referencing an Accounting textbook and/or
speaking to a CPA. I’m not getting into a debate about definitions of revenue
vs. income and how to treat bad debts in *your* books. As I noted, I’m not
dispensing accounting advice. I’m trying to help, best I can, with
Roger,
You just missed my recent reply on account types.
The asset version needs to be of *type* `asset` not *type* `accounts
receivable` but you can certainly place regular asset accounts as sub-accounts
of that special Accounts Receivable account. I have this very setup and it
works fine.
mailto:adrien.montele...@lusfiber.net> >
To: GnuCash mailto:gnucash-user@gnucash.org> >
Subject: Re: [GNC] Posting a bad debt
Message-ID: <486706b7-f07c-4122-9105-b1e66314a...@lusfiber.net
<mailto:486706b7-f07c-4122-9105-b1e66314a...@lusfiber.net> >
Content-Type: text/plain;
I think “Post in account” in
> English. I’m using version 1.6.18. Perhaps later versions allow you to
> receive a payment to accounts receivable asset accounts.
>
> Thanks,
> Roger
>
> Message: 5
> Date: Tue, 9 Apr 2019 14:18:55 -0500
> From: Adrien Monteleone
&
cash-user@gnucash.org>
Subject: Re: [GNC] Posting a bad debt
Message-ID: <1554854356764-0.p...@n4.nabble.com
<mailto:1554854356764-0.p...@n4.nabble.com> >
Content-Type: text/plain; charset=us-ascii
Roger,
The conventional accounting procedure for bad debts is to have a contra sub-
> >
To: Adrien Monteleone mailto:adrien.montele...@lusfiber.net> >
Cc: GnuCash mailto:gnucash-user@gnucash.org> >
Subject: Re: [GNC] Posting a bad debt
Message-ID:
mailto:cajdmz-v_2vlymdvugpwzdqzbnrie5tmrqnotubjc4gy6abz...@mail.gmail.com> >
Content-Type:
9 14:18:55 -0500
From: Adrien Monteleone mailto:adrien.montele...@lusfiber.net> >
To: GnuCash mailto:gnucash-user@gnucash.org> >
Subject: Re: [GNC] Posting a bad debt
Message-ID: <4283cc76-028c-45c3-94e9-be028a218...@lusfiber.net
<mailto:4283cc76-028c-45c3-94e9-be028a
Revenue is money you have collected. I don't think an invoiced amount is
revenue until it has been collected. When a payment cannot be collected,
that uncollected payment is not an expense. An expense is revenue spent in
exchange for a good or service.
Kind regards, Greg Feneis
(Galaxy S7)
On
> Thanks,
> Roger
>
> -Original Message-
> From: Justin Haynes <mailto:jus...@justinhaynes.com>>
> Sent: Tuesday, April 9, 2019 1:40 PM
> To: rmom...@gmail.com <mailto:rmom...@gmail.com>
> Cc: GnuCash mailto:gnucash-user@gnucash.org>>
> Subject: R
I think you have to pay it from an expense account like Expenses:BadDebt or
wherever you want to record that expense.
Sent from my iPhone
> On Apr 9, 2019, at 1:21 PM, wrote:
>
> If you create an invoice that later becomes uncollectible, there is no way
> to charge it off to a bad debt
On Tuesday, 9 April 2019 19:21:16 BST rmom...@gmail.com wrote:
> If you create an invoice that later becomes uncollectible, there is no way
> to charge it off to a bad debt expense account from within the invoice.
> Suggestions?
>
Hi,
haven't had to do this for a while (thnakfully!), but ISTR
Roger,
You could create a sub-account of A/R something like ‘B2BTrade'. When the
client does work for you, you ‘pay’ the bill they send you by crediting the
asset, and debiting the relevant expense. When you want to apply this to their
A/R balance, then ‘pay’ their invoice from you using that
Roger,
The conventional accounting procedure for bad debts is to have a contra sub-
account to the accounts receivable usually labelled "Allowance for Bad
Debts" as Adrien indicated earlier. The total of this account sums into the
Account Receivable account, i.e. it is a child account. It is
: Re: [GNC] Posting a bad debt
In similar fashion, a favorite customer shorted me $0.50 on a timely big
invoice payment. Rather than hassle them about $0.50, I created another
invoice, but as I was creating the invoice I selected credit memo instead of
invoice. I made a credit memo
> On Apr 9, 2019, at 6:07 PM, Greg Feneis wrote:
>
> Since people are trying to associate a non payment with an expense account,
> does not getting paid by a customer actually constitute an expense?
Generally, yes, it is revenue earned, but needs to be deducted so as not to
affect income
Since people are trying to associate a non payment with an expense account,
does not getting paid by a customer actually constitute an expense?
I imagine in business, the big concerns with expenses are tracking where
the revenue that doesn't become profit goes, and (at least in the US)
getting
I tested it, you can’t select expense accounts on credit memo line items either.
It looks like the only method is what I outlined earlier, ‘pay’ with some other
asset account, then transfer that amount to Expenses:Bad Debts.
Regards,
Adrien
> On Apr 9, 2019, at 3:21 PM, Greg Feneis wrote:
>
with the result. Keep looking for something better.
>
> Thanks,
> Roger
>
> -Original Message-
> From: Justin Haynes
> Sent: Tuesday, April 9, 2019 1:40 PM
> To: rmom...@gmail.com
> Cc: GnuCash
> Subject: Re: [GNC] Posting a bad debt
>
> I think you have to
] Posting a bad debt
I think you have to pay it from an expense account like Expenses:BadDebt or
wherever you want to record that expense.
Sent from my iPhone
> On Apr 9, 2019, at 1:21 PM, wrote:
>
> If you create an invoice that later becomes uncollectible, there is no
> way to c
Probably the more formal method would be to create,
Assets:Current Assets:Accounts Receivable:Allowance for Doubtful Accounts
then ‘pay’ the original invoice with that asset account, then move that amount
(once determined you definitely won’t collect it) to Expenses:Bad Debt.
'Allowance for
If you create an invoice that later becomes uncollectible, there is no way
to charge it off to a bad debt expense account from within the invoice.
Suggestions?
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