On 3/16/2025 5:31 PM, flywire wrote:
I understand this to be a request for Hybrid Accounting, basically a
combination of Cash Accounting and Accrual Accounting. (Rental Income being
the other side of the ledger tracking unpaid Invoices - Accounts
Receivable).
A bill you receive is a liability. From
https://www.gnucash.org/docs/v5/C/gnucash-guide/chapter_accts.html#accts-types1
Accrual basis differs most from cash basis on the income side. On the
expense side, less so. When you are billed for an expense (not pre-paid
or paid when service or good received) you either pay the bill or it
becomes a liability. If accrual basis always first recorded as a
liability and the paid (even if on same day). If cash basis can
initially enter as a liability (and expense) as of its DUE DATE. In
effect you might end up clearing this liability before it came into
existence (pay in full before due date).
Michael D Novack
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