Unpaid Late Payment Fees under cash-basis accounting affecting net profit

#1

Hi, hoping someone can help.

I have an overdue invoice accruing late payment fees which have not been paid yet, however these fees are showing up in my profit loss reports as profit. I am using the Cash Basis accounting method, so I would expect these not to be classified as profit until they are paid?

Is there anything I can do to change how late payment fees behave so that my profit loss report reflects my accounts more accurately?

Thanks in advance.

#2

What you describe seems like a bug, however we need more info so the mods can replicate it and categorize this as a bug.

You need to provide the version you are using and screenshots of:

  • the invoice with the late fees,
  • summary page (possibly the edit screen as well)
  • drill down to those late payment fees in summary.
#3

I can reproduce this. It seems that late payment fees should be suppressed the same way other postings to income accounts from sales invoices are until the receipt is entered.

I am moving this to bugs. I have edited the subject to better reflect the issue.

2 Likes
#4

Thanks, I thought something was odd about the behaviour, wasn’t sure if I had missed something in the settings.

@Tut do you need any additional info from me iron the bug out?

#5

I won’t be the one to change anything. That will be the developer. But I doubt he will need more.

#6

Fixed in the latest version (21.7.29)