-----BEGIN PGP SIGNED MESSAGE----- Hash: SHA1 Luke,
ok, if you run on a cash basis then you're right. Sales are only realized once you receive the money. Then, of course, you can only post costs which actually occurred i.e. what has been paid for. Maybe I fail to see your problem ... Regards, Bernd On Wed, 13 Apr 2011 01:03:31 -0400 (EDT) Luke <[email protected]> wrote: > On Wed, 13 Apr 2011, Bernd Plagge wrote: > > > Hm, why do you think that you have to "close all outstanding transactions"? > > And what exactly to you mean with "closing"? > > I've seen it said in various ways, but we have this, from the old SL > 2.6.something manual, section 4.3 (Yearend): > > " > expenses Method: either accrual or cash. Cash will calculate only paid for > transactions. Partial payments are not included. If you have partially > paid transactions apply full payment and create another transaction with > the outstanding amount. > " > > That is the kind of "closing" I am talking about. > > > If you issue an invoice for 100 USD on December 30th, to be paid within > > the next 30 days then 2 things will happen: > > 1) you post sales of 100 USD (for the month of December) > > Unless I'm having a senior moment (and I hope not, since I'm not > particularly senior), on a cash basis, that is not actually the case. > > Service businesses in the U.S. tend to run on the cash basis. > > Regards, > > Luke > > _______________________________________________ > SQL-Ledger mailing list > [email protected] > http://lists.ledger123.com/mailman/listinfo/sql-ledger -----BEGIN PGP SIGNATURE----- Version: GnuPG v1.4.10 (GNU/Linux) iEYEARECAAYFAk2lQQYACgkQpYU8M8PbPV5e+ACfWrWt38Bx3rKdRsMQT769YaF6 NJYAoMuQPYkDpQ0AjjvWip0S1REYQLnB =vG3M -----END PGP SIGNATURE----- _______________________________________________ SQL-Ledger mailing list [email protected] http://lists.ledger123.com/mailman/listinfo/sql-ledger
