2011-08-17 GnuCash IRC logs

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03:16:09 <warlord> @op
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16:50:30 <lastm> Fixed previously posted issue regarding order of accounts in the trial balance report -- ALL accounts, including "placeholder" accounts require "account code" for proper sort by "account code". I am guessing that the sort is on "account code" as all account names start with the number and yet were out of order. Thanks.
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17:22:18 <mr-rich> A Quicken vs GNUCash question: In Quicken, I can download a "web connect" file and Quicken will match those transactions against transactions in the register for reconciling. Does GNUCash have a similar feature?
17:23:11 <mr-rich> This makes it much easier to resolve imbalances ...
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18:08:57 <warlord> mr-rich: GnuCash does not support "web connect"; you can, however, download the QIF or OFX from their website, save the file locally, and then import it.
18:10:00 <mr-rich> warlord: will GNUCash "match" incoming transactions against the imported file?
18:10:25 <mr-rich> oops against the register, I mean ...
18:11:46 <warlord> It will attempt to, yes. It;s not fully automatic -- you do have to acknowledge that it's a match.
18:15:39 <mr-rich> warlord: Quicken does that too ... you have to "accept" the match ... thanks, I'll try that next time ...
18:16:04 <mr-rich> I'm really trying to get away from Quicken ... :)
18:16:38 <mr-rich> and isn't a "web connect" file in OFX format?
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18:17:16 <mr-rich> and if not, is it not an open format?
18:18:11 <warlord> Yes, web connect is generally OFX, but gnucash doesn't have web-connect capability; you need to download hte ofx file manually.
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19:51:07 <eGaTS> greetings
19:52:30 <eGaTS> i've been reading through the wiki and i've gotten myself very confused
19:54:09 <eGaTS> i'm setting this up the accounts for a small business that accepts a monthly tuition, and i'm not quite sure where to put it
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19:54:33 <warlord> eGaTS: where would you put it if you were accounting using pen and paper?
19:55:23 <eGaTS> let me try to explain better
19:55:51 <eGaTS> there are invoices for the tuition, and there are payments accepted for that tuition
19:56:08 <warlord> Okay...
19:56:32 <eGaTS> do i need to make an Income:Tuition and also an A/R:Tuition?
19:57:02 <warlord> Yes and no.
19:57:19 <warlord> (yes, you will want Income:Tuition, no you do not need a separate AR account)
19:58:19 <eGaTS> ok, but on the invoice, i want to break down the payment into other things besides tuition
19:58:42 <warlord> Okay.
19:58:46 <warlord> You can do that.
19:59:25 <eGaTS> but Income is only for payments received?
20:00:38 <eGaTS> sorry, this is all very new to me
20:00:59 <warlord> Income (in this case, since A/R implies Accrual-based accounting) is the booking of the "expected income." -- you need to manually convert your outstanding receivables based on when the payment happens to convert to cash
20:01:05 <warlord> -based accounting
20:01:43 <warlord> What else do you want to break out on the invoice?
20:02:44 <eGaTS> well, the tuition is broken down further by classes, fees, and there are other things like registration
20:03:26 <warlord> Sure, but in the end do you need to keep those fees separate in your accounting? Or you just want to break them out on the invoice?
20:04:00 <eGaTS> both, i think
20:04:34 <eGaTS> when i print a report for a customer (student) showing what they paid, it should be broken down into those categories
20:05:59 <warlord> What kind of report are you printing? The invoice can still be broken down.
20:07:14 <eGaTS> invoices are printed before payments are received, right? but if a student comes to me and asks for a summary of payments and charges, i thought that was called a report
20:07:17 <warlord> What I'm really asking is if you need to keep track of those fees separably yourself. I.e., do you need to see the sum of all "registration fees" (across all students)
20:08:06 <eGaTS> there are instances when i would need a total of those specific fees
20:08:09 <warlord> eGaTS: Sure.. You could print out a customer report (which would show the invoices and payments and the amount owed).. And you can reprint the individual invoices to show how those payments were broken down.
20:09:12 <warlord> Okay, then if there are instances where you need to see the sum of various fees then yes, you should have separate income accounts. Income:Tuition, Income:Registration, etc.
20:09:49 <eGaTS> let's say for instance there was a charge for books on each of my students' invoices. when i place the order to purchase those books, i want to make sure i have enough of those types of payments to actually purchase them
20:10:24 <eGaTS> ok, i will rearrange these that way and see if it makes sense now
20:10:26 <warlord> Hmm...
20:10:47 <warlord> The income accounts wont tell you how much you have, only how much you expect to receive.
20:11:13 <eGaTS> that is where my confusion lies, i think
20:11:49 <eGaTS> because the wiki states that A/R includes products and services for which payment has not yet been received
20:13:07 <warlord> correct
20:13:25 <eGaTS> but didn't you just say that's what Income is?
20:17:59 <warlord> Your income account will have the total you actually or expect to receive.
20:18:09 <warlord> A/R is the amount you still expect to receive.
20:18:21 <warlord> Your bank account (Asset) will contain what you did receive.
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