You could use the Business Features Accounts Receivable process to create an invoice when the rents are dues and then record the payments when they are received. You don't necesarily have to post invoices to the tenant but you could - it might help remind them. The tutorial Guide has an outline of the use of the business features (https://www.gnucash.org/docs/v3/C/gnucash-guide/chapter_bus_features.html). The account s receivable section is most relevant.
It will depend a bit whether you are required to use accrual or cash accounting what is the best method. A direct writeoff method simply does Expenses:Bad Debts Dr xxxx Assets:Accounts Receivable Cr xxxx but this has problems particularly if you write the bad debt off outside the accounting period (usually annual) in which the rent was due as there is not a matching of the recording of theexpense with the recording of the income. It may be possible to use a Credit Note ( a reverse invoice) to create the above transaction reord. The business features are not generally tolerant of manual entries to reverse operations. Someone else may be able to advise whether this will work. Another way to do it is to not use the inbuilt business features at all but setup a manual Accounts Receivable system. You would need to setup: Asset:Rent:Accounts Receivable Income: Rent Expenses:Rent:Bad Debts Recording a rent apyment due would be Asset:Rent: Accounts Receivable Dr xxxx Income:Rent Cr xxxx recording receipt of the payment Asset:Bank:Checking Dr xxxx Asset:Rent:Accounts Receivable Cr xxxx recording a rent payment not received and written off Expenses:Rent:Bad Debts Dr xxxx Asset:Rent:Accounts Receivable Cr xxxx Exactly how you handle this and the timing of recording the various events will depend on your tax situation, local taxation legislation etc. You should not consider the above as advice in any way and you should consult a local accountant for an optimal method for your situation. David Cousens ----- David Cousens -- Sent from: http://gnucash.1415818.n4.nabble.com/GnuCash-User-f1415819.html _______________________________________________ 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.
