On 3/4/24 11:34 PM, Blake Hannaford wrote:
1) At end of year, figure out the total dollar amount of unpaid invoices.
Check the Receivables Aging Report. This should give you the total you want.
2) Create a new Income account "unpaid sales" 3) Debit sales by the unpaid total and credit "unpaid sales" > 4) Ideally see if "unpaid sales" can be omitted from the income statement report. 5) Otherwise, manually subtract "unpaid sales" from Total income to get income tax liability
You can select which accounts appear in a report via the Accounts tab under Options.
6) At start of next year, keep "unpaid sales" but zero out all other income accounts (transfer to year-end equity - my usual system for income and expenses)
No need to zero sales. Your next year's Income Statement won't take previous year's transactions into account anyway.
7) During the year, either move the total back to sales immediately or when each invoice is paid, manually debit "unpaid sales" and credit "sales" for that amount.
You can alternatively not post bills until you receive payment, or post them as normal so they'll show up on a Customer Report, but then unpost, repost with new date and apply payment when it arrives.
Regards, Adrien _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
