So I did assign the credit note to the AR account and then processed two payments by selecting the posted invoices and the credit note all in the AR account. I didn’t do anything else but somehow the remaining balance of the credit note ended up in a liability account. Should I just move it back to the AR account to keep it simple?
> On Jul 3, 2019, at 10:58 AM, Adrien Monteleone > <adrien.montele...@lusfiber.net> wrote: > > If you didn’t involve a liability account initially, the remaining credit on > the credit note would sit in AR. But if you ‘paid’ the credit note with a > liability, you transferred that amount from AR to the liability, which is the > account you will ‘pay’ future invoices from when offsetting with the credit. > > Be mindful that the credit note should have been posted to AR initially. > > Also that the credit note’s line items should have all been assigned to some > income account, NOT a liability account. You want to decrease your income > accounts with a credit note that the original invoice(s) increased. Not sure > I follow u here. The first transaction was an invoice and payment to the > business checking account. Now part of that payment is the credit note. I > assumed that paying the invoices in the AR account with the credit note is a > reduction of an income account. > > Here’s a simplified transaction walk through: > > > Original Invoice > ----- > Dr. Accounts Receivable $1000 > Cr. Income $1000 > > > Original Payment by check > ----- > Dr. Undeposited funds $1000 > Cr. Accounts Receivable $1000 > > > Depositing of check > ----- > Dr. Checking $1000 > Cr. Undeposited Funds $1000 > > > Issuance of Credit Note > ----- > Dr. Income $100 > Cr. Accounts Receivable $100 > > > IF you ‘pay’ (transfer) the credit note with a liability account > ----- > Dr. Accounts Receivable $100 > Cr. Customer Deposits $100 > > > When you offset a future invoice with the liability > ----- > Dr. Customer Deposits $100 > Cr. Accounts Receivable $100 > > > OR if you don’t involve a liability account at all, offsetting a future > invoice > ----- > Dr. Accounts Receivable $100 > Cr. Accounts Receivable $100 > > (in this case the money doesn’t move accounts, but gets ‘assigned’ to a > different document, from the credit note to the invoice) > > Regards, > Adrien > >> On Jul 3, 2019, at 12:15 AM, Eric Rathhaus (general) >> <rathhaus_...@yahoo.com> wrote: >> >> Hi again - so everything worked the first time. I back off all the >> transactions and put the credit note in the AR account, selected two >> invoices and the credit note , credit note reduced by that amount and the >> payments showed. But I need to run another offset and the credit note no >> longer appears in the AR account. The system moved it to a liabilities >> account and automatically opens the liabilities account when processing a >> payment for that company. Is this how it should work? >> > > > _______________________________________________ > gnucash-user mailing list > gnucash-user@gnucash.org > 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. _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org 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.
