How to keep "money owed" out of income and tax reports RRS feed

  • Question

  • I'm using UK Money 14.

    I have a part-time job working as a consultant. As and when I do some consulting work, I enter the amount earned in a dummy account called. When the creditor pays me, I "transfer" the money from the dummy account into my bank account ledger, then reconcile the work done in the dummy account with what has been paid to me. This works very well for keeping track of work I have done, who has paid and who hasn't etc.

    The downside is that it very difficult to make many of my reports to make sense, as money in the dummy account are always counted as income. Thus, for example, if I run a tax report for the last tax year, it will show as income work done in that tax year, even though the money may not come into my bank account until the following tax year.

    I have tried a lot of solutions to this - eg making the dummy account a "liability" account, then ticking "show transfers", or by excluding the dummy account from reports etc, but have not yet found an elegant way to do this.

    Does anybody have any suggestions?

    Friday, November 4, 2011 3:30 PM

All replies

  • Have you tried leaving the category blank in your accrued income?  Customize your report to exclude uncategorized tranactions.

    Describe things in the Memo.

    Saturday, November 5, 2011 6:10 AM