[OSGeo Finance] Cancelling Invoices, and restating results

[Frank Warmerdam]

Jo Walsh wrote:
> This is long after the fact, but I talked this question (of how to
> treat unpaid invoices booked as accounts receivable) over with Will,
> and he reckons it better not to book invoices as AR at all if there is
> no contract behind them, specifically in the case where there is no
> renewal agreement yet. Just to keep a note of the invoice and enter it
> when payment is agreed or made. Perhaps you're doing it this way from
> this year on already?

Jo,

I'm also now inclined to get some confirmation of intent-to-renew before
issuing an invoice for sponsorship renewals.  It was my request to Tyler
that lead to issuing renewal invoices before we had any commitment to renew.

I did this desiring to establish a presumption of renewal with the sponsors
(something PCI used to do with maintenance for instance) rather than ask
a question that is easy to say no too.  I had not anticipated the accounting
challenges this might imply!

Best regards,
-- 
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I set the clouds in motion - turn up   | Frank Warmerdam, warmerdam at pobox.com
light and sound - activate the windows | http://pobox.com/~warmerdam
and watch the world go round - Rush    | Geospatial Programmer for Rent