[OSGeo Finance] Quickbooks, reserve funds...

[Ken Tamura]

Maybe we need to see how the income are being booked.  When you record income, the other side of the accounting entry is generally cash or recievable.  They are recorded at the same time.

If the other side of income is based upon the invoice then its recorded to receivable.   Then when cash comes in you record cash to restricted cash and you reduce the open recievable.



Best regards,

Ken Tamura
Geospatial Solutions
415-507-8313  work
415-299-1704  cell

----- Original Message -----
From: Tyler Mitchell <tmitchell.osgeo at gmail.com>
To: Ken Tamura
Cc: Paul Ramsey <pramsey at cleverelephant.ca>; finance at lists.osgeo.org <finance at lists.osgeo.org>
Sent: Wed Oct 15 22:05:24 2008
Subject: Re: [OSGeo Finance] Quickbooks, reserve funds...

  15-Oct-08, at 9:45 PM, Ken Tamura wrote:

> 1.  Track at a detail level:  It would best to create a restricted
> cash account for each standard activity in the balance sheet.  Then
> you can track activity in/out of this account for reporting if
> needed.  All general funds are recorded to one general fund cash
> account.

I think I follow this.  At the moment it sounds like it would mean
simply moving our "income" account for each project, into a top level
"cash" account.  Or should we just leave it as an income account and
do transfers or journal entries to move the funds to the cash account?