tag:infinitekind.tenderapp.com,2009-01-14:/discussions/general-questions/108064-tracking-accounts-receivableInfinite Kind: Discussion 2021-04-26T05:00:26Ztag:infinitekind.tenderapp.com,2009-01-14:Comment/489905492021-01-24T20:32:20Z2021-01-24T20:32:20Ztracking Accounts Receivable<div><p>Perhaps log it in to an expense category called AR, and then when you actually receive it, create a new Txn and move it out of AR into the actual category..?</p></div>Stuart Beesley (Mr Toolbox)tag:infinitekind.tenderapp.com,2009-01-14:Comment/489905492021-01-24T20:59:41Z2021-01-24T20:59:41Ztracking Accounts Receivable<div><p>Hey Stuart,<br>
I'll test this out.<br>
Is there a way to hide an expense category from showing up on an expense report?</p>
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<code>On Sunday, January 24, 2021, 12:32:32 PM PST, Stuart Beesley - JUST A FELLOW USER <tender+dab7b2c535@tenderapp.com> wrote:</code>
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<p>In the parameters setting for the report exclude that particular expense category. Towards the bottom of the parameters screen click on "By Individual" then all categories will be shown in the selection box and you can exclude it.</p></div>dwgtag:infinitekind.tenderapp.com,2009-01-14:Comment/489905492021-01-25T00:14:55Z2021-01-25T00:14:55Ztracking Accounts Receivable<div><p><em>From</em>: sprimost - Not IK support</p>
<p>Accounts Receivable, by definition, is a current asset...i.e., an<br>
increase in Net Worth. AR is not an expense category by accounting rules.</p>
<p>I know, it might sound complicated, but I would set up <em>asset</em>_ accounts<br>
for each client, so that you can run a report by accounts of transactins..</p>
<p>When a "sale" is made, it is a reduction in inventory (another asset<br>
account) plus gross profit (the difference between the cost of goods<br>
(inventory0 and what you charged. Obviously, if you have labor, that would be an expense that is increase and charge against the sale.</p>
<p>Payment of a "sale" would be an increase in Revenue, (an income account,<br>
and a reduction in the account receivable.</p>
<p>Running a report by account, would show outstanding amounts (a positive<br>
number, how much inventory uoiu have. A report of income and expenses<br>
will should gross revenue, and constituent expenses.</p>
<p>Just a suggestion.</p>
<p>/scp</p></div>sprimosttag:infinitekind.tenderapp.com,2009-01-14:Comment/489905492021-01-25T04:51:08Z2021-01-25T04:51:08Ztracking Accounts Receivable<div><p>... so same approach, but when you create the first txn just use an asset account as the category(transfer) field (instead of expense category) and then the same again with a negative amount for the receipt.</p></div>Stuart Beesley (Mr Toolbox)