On 2/26/2025 9:59 AM, Jan Vlug wrote:
I do work in December. I think the Income should be booked in December
for taxes.
But, I cannot send the invoice in December yet (because of specific
procedures with the customer).
1. When I set the post date of the Invoice after 31 December (when I
really sent the invoice) the date of the Income and Accounts
Receivable transactions will be booked in the new month (January). But
I want the income to be in the actual month of the work (December).
2. When I set the post date of the invoice on 31 December (which does
not corresponds with the real date when I sent the invoice), the
Income and Accounts Receivable transactions will be booked in the
month when the work was done (December), which from a tax perspective
seems more correct to me.
I tend to go for option 2. But the invoice date in GnuCash is not
correct in that approach.
How would you recommend to handle this situation?
Not a gnucash question (not really). Why do you think (for tax purposes)
what year you DO the work has any relevance? Is that what the tax rules
of your jurisdiction specify? Please note I am NOT "qualified" to give
accounting or tax advice, but IMHO whether using accrual or cash basis,
when you do the work, make the widget, contract for a future sale of the
widget, etc. might not be relevant.
Michael D Novack
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