Personal Finance & Money Asked by techhazard on February 5, 2021
I would like to combine some bills (that I need to pay) and some invoices (that I’m being payed) into a single transaction so that it is correct with my bank statement. Is this possible?
I work as an independent contractor, and the billing(?) company that pays me sends me a bill for their services, and then subtracts that bill from what they pay me so the actual transfer is the net transfer.
I send them two invoices for 800 and 400 euro, and they send me bills for 100 and 50 euro.
I entered all four into GnuCash as separate items (since they are).
Upon payment there is one transfer of 1050 euro to my bank account.
I currently have combined the two invoices with the transaction, but now the second one is marked as unpaid (due to partial payment). I looks something like this:
description | account | deposit | withdrawal |
---|---|---|---|
invoice 001 | debit | 800 | |
invoice 002 | debit | 250 | |
payment | bank | 1050 |
The statement would look something like this:
description | account | deposit | withdrawal |
---|---|---|---|
invoice 001 | debit | 800 | |
invoice 002 | debit | 400 | |
bill 001 | credit | 100 | |
bill 002 | credit | 50 | |
payment | bank | 1050 |
How do I combine these bills and invoices so that the transaction is correct with the transfer to my bank account, and all bills/invoices are marked as payed?
(Apologies for any incorrect terms, I’m translating from Dutch)
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