2008-05-20 GnuCash IRC logs
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14:46:49 <xai> Hi guys; i have an accounting question: I have some bad debt I need to write off. My strategy is to do the following:
14:47:36 <xai> 1. Create an expense account called Bad Debt under "Other Expenses" (already there really).
14:48:37 <xai> 1. Make an entry in Accounts Receivable for the debt amount, under the Bad Debt transfer.
14:50:39 <xai> Does this sound remotely correct?
14:52:40 <cortana> sounds sensible to me
14:53:07 <cortana> although... you're using the business features, which might have another way to do that
14:53:10 <cortana> i don't use them myself
14:54:02 <xai> cortana: you mean I can pay the invoice and use the "bad debt" account as transfer?
14:54:36 <cortana> maybe... as i say, i don't use the business features like invoicing myself so i can't really confirm that :)
14:56:37 <xai> Ok, I don't see any Expenses in the "Pay Invoice" features.
14:57:40 <xai> http://www.gnucash.org/docs/v1.6/de_DE/t1120.html seems to be doing similar to what I need.
14:58:32 <xai> Except I think they are using General Ledger, and I was starting on AR.. GL is probably the right place.
15:04:21 <warlord> xai: That's what I would do.
15:04:35 <warlord> xai: that's the 1.6 docs. You should be looking at the 2.0 docs.
15:04:55 <warlord> (note that you may need to 'pay' to checking and then repoint the txn in the register to your expense account)
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15:10:33 <xai> warlord-afk: the GL entry seems to have rectified it. I don't seen anything in checking that has changed.
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15:49:15 <xai> warlord: how would I know if I needed to "pay to checking" though?
15:49:37 <warlord> huh? what do you mean?
15:50:01 <warlord> If you cannot select the expense account in the Process Payment dialog then choose a chekcing account and the repoint the txn
15:51:47 <xai> ah.. I just used GL, and didn't worry about the payment of the invoice.
15:52:05 <xai> It was over 2 years old so I didn't bother with it.
15:52:37 <xai> Is there a way to mark an invoice paid manually?
15:53:17 <xai> I see your way has a benefit.
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15:55:00 <warlord> xai: Nope, there is no way to mark the invoice paid manually, which is why I told you to do it this way.
15:56:23 <xai> ok.. Thanks.. That all makes sense now.
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19:41:17 <bab> can anyone explain the way basis calculations are done in the advanced portfolio?
19:41:55 <bab> i have one holding that doesn't have a value in this column and it throws the whole report out of whack (I don't get an overall gain or return)
19:42:09 <bab> and others where the basis is not equal to the money in
19:43:18 <bab> the latter i can account for if i exclude dividends from the money in (which makes sense)
19:43:30 <bab> but the former has me stumped
19:46:32 <bab> nevermind, i think it's because i have a blank in the register
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