Thanks Derek and David,
That was the missing part. I record a payment of the Invoice through
the standard payments screen, assigning it to a temporary Income
(Assets) account, then open the register for the Accounts Receivable
and change the account reference to be the Bad Debtors expense ac
What I've done in the past is just process a payment and then change the
transfer account from the Bank to Expense.
-derek
Sent using my mobile device. Please excuse any typos.
On August 15, 2024 21:36:55 David Cousens wrote:
Jeff,
I suspect that if you are able to link the write off transact
Jeff,
I suspect that if you are able to link the write off transaction to the
invoice as a payment, this would likely clear it from both the Accounts
Receivable Ageing report and the Client report.
That linking may be problematical for a bad debt transaction as the
Expense Accounts do not show
Hi David,
Again, possibly just my lack of knowledge on the subject, but I thought
that essentially you cleared the debt from the client by moving it to
the Bad Debt, essentially saying, We are never going to get this money,
so lets forget about it. (Note I have other means to flag to not exten
I think you would have to link the writeoff transaction to the invoice
in the same manner you link a payment if GnuCash will allow you too do
that (I don't know for sure if it will- Derek may be able to confirm
whether it can be). That should clear the invoice
I would not see why it you would want
Thanks David,
That is a clearer description of what I am doing.
The issue that I have, and maybe it is just my lack of general
accounting knowledge, but the amount ($300) is still showing as owing
from Bob if I either run the Client Report, or open the Invoice.
Shouldn't a written off debt eff
Jeff,
The standard direct write off method for bad debts would be to credit
the Accounts Receivable for the amount of the bad debt and debit an
Expense:Bad Debts account for that amount. That will remove the bad
debt from your Accounts receivable and record it as an expense against
the business a
