invoicing and receipts only?

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invoicing and receipts only?

Morgan Read
Hello List

I think I have a pretty straight forward question.

What accounts should I create and what should I call them in the
accounts set-up dialogue if I'm wanting to use gnucash to invoice and
account for invoices (aged debt) and issue receipts for invoices paid?
A billing system.

I've looked over the list and followed a discussion 'How to set-up
Gnucash as a business software?' and a few others.  I'd like to start up
the 'right' way so I'm not having to go back and unpick thing, but
there's no obvious set of accounts for this (I imagine) fairly straight
forward use case.

Many thanks.
Regards,
Morgan.
--
Morgan Read
<mailto:mstuffATreadDOTorgDOTnz>

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Re: invoicing and receipts only?

Wm...
Fri, 17 Jul 2015 22:20:12 <mobric$bse$[hidden email]>
Morgan Read <[hidden email]> wrote...

>Hello List
>
>I think I have a pretty straight forward question.
>
>What accounts should I create and what should I call them in the
>accounts set-up dialogue if I'm wanting to use gnucash to invoice and
>account for invoices (aged debt) and issue receipts for invoices paid?
>A billing system.
>
>I've looked over the list and followed a discussion 'How to set-up
>Gnucash as a business software?' and a few others.  I'd like to start up
>the 'right' way so I'm not having to go back and unpick thing, but
>there's no obvious set of accounts for this (I imagine) fairly straight
>forward use case.

Help / Tutorial and Concepts / Managing Business Finances is a common
starting point.

--
Wm...

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Re: invoicing and receipts only?

Derek Atkins
In reply to this post by Morgan Read
Hi,

Morgan Read <[hidden email]> writes:

> Hello List
>
> I think I have a pretty straight forward question.
>
> What accounts should I create and what should I call them in the
> accounts set-up dialogue if I'm wanting to use gnucash to invoice and
> account for invoices (aged debt) and issue receipts for invoices paid?
> A billing system.
>
> I've looked over the list and followed a discussion 'How to set-up
> Gnucash as a business software?' and a few others.  I'd like to start up
> the 'right' way so I'm not having to go back and unpick thing, but
> there's no obvious set of accounts for this (I imagine) fairly straight
> forward use case.

Minimally you'll need an Asset account (for your Bank), Income
account(s) for your sources of income, expense accounts (for all your
various types of expense).  And of course you'll need *one* A/R account
(per currency).

> Many thanks.
> Regards,
> Morgan.

-derek

--
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
       [hidden email]                        PGP key available
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Re: invoicing and receipts only?

Plutocrat
In reply to this post by Morgan Read
Morgan Read wrote on Saturday, 18 July, 2015 05:20 AM:
> What accounts should I create and what should I call them in the
> accounts set-up dialogue if I'm wanting to use gnucash to invoice and
> account for invoices (aged debt) and issue receipts for invoices paid?
> A billing system.

I'd personally recommend using the File > New setup wizard. When you get to the part where you select accounts, pick the Business Accounts option. This will set up all the Accounts you need correctly ... and a lot more besides.

If you find that you don't want the unused accounts, you can delete the unused ones. Its also possible to rename accounts for ease of reference. However I'd just live with the clutter, as you may need the accounts at some point in the future.

P.
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Re: invoicing and receipts only?

Morgan Read
In reply to this post by Derek Atkins
Hi There Derek

Thank for your reply.  That's pretty much where I think I got to using
the New Account Hierarchy Setup and the accounts in 'A Simple Checkbook'
Categories.  I stuck the Accounts Receivable under current assets next
to Quench Account and I'm not quite sure what Equity is - but guess I'll
discover.  I've realised I'm going to have to make some additions for
VAT, and one of the alternative Aust setups for GST from the Wiki seems
the simplest and most straight forward.

Many thanks again.

Regards,
Morgan.

On 20/07/15 00:41, Derek Atkins wrote:

> Hi,
>
> Morgan Read <[hidden email]> writes:
>
>> Hello List
>>
>> I think I have a pretty straight forward question.
>>
>> What accounts should I create and what should I call them in the
>> accounts set-up dialogue if I'm wanting to use gnucash to invoice and
>> account for invoices (aged debt) and issue receipts for invoices paid?
>> A billing system.
>>
>> I've looked over the list and followed a discussion 'How to set-up
>> Gnucash as a business software?' and a few others.  I'd like to start up
>> the 'right' way so I'm not having to go back and unpick thing, but
>> there's no obvious set of accounts for this (I imagine) fairly straight
>> forward use case.
> Minimally you'll need an Asset account (for your Bank), Income
> account(s) for your sources of income, expense accounts (for all your
> various types of expense).  And of course you'll need *one* A/R account
> (per currency).
>
>> Many thanks.
>> Regards,
>> Morgan.
> -derek
>


--
Morgan Read
UNITED KINGDOM
<mailto:mstuffATreadDOTorgDOTnz>

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Re: invoicing and receipts only?

Derek Atkins
Hi Morgan,

There are some pages on the wiki ( http://wiki.gnucash.org/wiki/ ) that
discuss VAT and GST accounting.

When you actually get down to fully using the program I recommend you
include the full set of income and expense accounts and properly
categorize your expenses into the appropriate accounts.  It's much
easier to combine accounts that were too narrow than it is to split an
account into multiple sub-categories.  So it's better to err on the side
of too much detail initially.

Good Luck,

-derek

Morgan Read <[hidden email]> writes:

> Hi There Derek
>
> Thank for your reply.  That's pretty much where I think I got to using
> the New Account Hierarchy Setup and the accounts in 'A Simple
> Checkbook' Categories.  I stuck the Accounts Receivable under current
> assets next to Quench Account and I'm not quite sure what Equity is -
> but guess I'll discover.  I've realised I'm going to have to make some
> additions for VAT, and one of the alternative Aust setups for GST from
> the Wiki seems the simplest and most straight forward.
>
> Many thanks again.
>
> Regards,
> Morgan.
>
> On 20/07/15 00:41, Derek Atkins wrote:
>> Hi,
>>
>> Morgan Read <[hidden email]> writes:
>>
>>> Hello List
>>>
>>> I think I have a pretty straight forward question.
>>>
>>> What accounts should I create and what should I call them in the
>>> accounts set-up dialogue if I'm wanting to use gnucash to invoice and
>>> account for invoices (aged debt) and issue receipts for invoices paid?
>>> A billing system.
>>>
>>> I've looked over the list and followed a discussion 'How to set-up
>>> Gnucash as a business software?' and a few others.  I'd like to start up
>>> the 'right' way so I'm not having to go back and unpick thing, but
>>> there's no obvious set of accounts for this (I imagine) fairly straight
>>> forward use case.
>> Minimally you'll need an Asset account (for your Bank), Income
>> account(s) for your sources of income, expense accounts (for all your
>> various types of expense).  And of course you'll need *one* A/R account
>> (per currency).
>>
>>> Many thanks.
>>> Regards,
>>> Morgan.
>> -derek
>>

--
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
       [hidden email]                        PGP key available
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