Thanks for the quick reply!
I looked and the invoice shows Income:Sales as you said it should.
So then I did another Report|TaxSchedReport
and now it's working, I can see that income. Science lurches onward. :-)
I think what might have happened was that I was running 4.2, couldn't
get it to work, so I upgraded to 4.4 before I posted the question and
maybe it did work but I didn't notice, and by that time I was confused.
Perhaps there was a bug in this area in 4.2?
On 2/11/2021 11:36 AM, Derek Atkins wrote:
Hi,
On Thu, February 11, 2021 1:28 pm, Paul Kinzelman wrote:
I'm running GC 4.4
I'm having trouble generating a tax report that includes paid invoices.
I'm not an accounting heavy-weight so I'm likely doing something wrong,
but I don't know what it is.
I created an invoice for a customer and posted it.
What I see is the money went into AccountsReceivable which is right.
Then they pay the invoice and I mark the invoice as paid.
The money goes from AccountsReceivable into Checking.
So when I look at the Checking account, the money says it
came from the AccountsReceivable account.
However, this money never appears in an Income account.
UMM.. So what account(s) are you specifying on the line-items in the Invoice?
When you post it to A/R -- what are the *other* split-accounts on that
posted transaction?
Those should be your Income accounts.
So when I do a Reports|TaxScheduleReport that amount
doesn't appear anywhere in the report so that income is missed
because AccountsReceivable is not set to be Tax Related but it
seems like it should be.
Sounds like you're not entering your invoices correctly.
So if I go to Edit|TaxReport to try to make AccountsReceivable be tax
related, it does not give me the option to bind it to Schedule C
like all the other accounts allow. It allows only:
Tax Report Only - No TXF Report
F8606 IRA basis at beg of year
F8606 IRA basis at end of year
HomeWks Cost of new home
Yeah, don't do that. A/R isn't a Tax account.
Shouldn't I be able to specify the AccountsReceivable account
to be binded to Schedule C Sales income?
No. A/R is an Asset.
To get around it I can change the entry in the checking account for
the amount to come from Income:Sales and it works but I shouldn't
have to do that.
Indeed. It should be Income:Sales -> A/R and then A/R -> Checking.
Shouldn't a paid invoice amount (from AccountsReceivable)
somehow appear in Income:Sales? Or is
that for cash-basis accounting and I do want it in
Accounts:Receiveable for Accrual basis? And if so, shouldn't
AccountsReceivable be
able to be designated to appear in my Schedule C under Income?
It should appear in Income:Sales when you post the invoice (not when you
pay it). If it is not doing that, you're mis-assigning your invoice
line-items.
TIA!
-Paul Kinzelman, Peralta NM
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-derek
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