Acct receivable

I don't think you can wait until the due date to post the receivable. What are you entering for terms? You can override the default terms and set the due date to whatever day you want. When you create April invoices simply set the due date to May 1st. With the invoice on screen, click on Terms, and for the due date type in 5/1/05, and for displayed terms type in May 1, 2005.

The receiveable side of the transaction will be created automatically when you create the invoice. Remember we are doing 2-sided accounting.

You can change the way that the Aged Receivables report displays the over due invoices. Go to Maintain>>Default Information>>Customers. On the Aging tab change the "Age Invoices by": to Due Date. This way it won't show up as over due until after the first of the month. That is assuming you have set the Payment Terms to be "Due on 1st day of next month" when the invoice was created.

When you create an invoice it automatically creates the following transaction:

Debit A/R Credit Sales/Income

It is irrelvent when the receivable is earned. The mere creation of the invoice creates the receivable. Again, this is 2-sided accounting.

So in your case the invoice should not be created until the 1st of the month when the rent is due. Then your customer has the normal 10-15 days to pay the rent.

A clear violation of accounting standards.

I'll accept that PTA works this way but it is not accurate. The leases call for a 1st of month due date, the income is earned as of the first of the month.. Generating a receivable on invoice might work for product sales but it does for services billed on a monthly basis. I guess I'll have to use powrwrap's suggesting of using something else to generate the invoices.

You can override Peachtree's creation date. Since the invoice goes to receivables based on the invoice date, instead leaving the date at the creation date, why don't you just date it the first of the month?

One other thought...if you want to send the invoices on say, the 15th of the month, enter the 15th as the SHIP date, and use the 1st as the INVOICE date. That keeps the receivables dated the 1st.

Then, modify the form, showing the Invoice date as the Due date and the Ship date as the Invoice date.