Tax refunds

[plussier@mindspring.com]

In a message dated: Tue, 01 Oct 2002 13:10:34 +0200
lmb said:

>Hi all,
>
>quick question, not entirely gnucash related. ;-)
>
>I've finally done my tax paperwork, and am now expecting a refund (well, that
>is the plan at least).
>
>So, how to I book this?
>
>Is it coming in via an Income:Refunds account, or do I deduct it from
>Expense:Taxes ?
>
>Another issue would be that it is a refund for 2001; but will show up in 2002.
>Is that proper or should I book it on 2002-12-31 so it shows up in the right
>year?
>
>BTW, at the end of the month, I'll have been using gnucash for exactly a year.
>It helped immensely to track where my money was or was not going. Thanks a
>bunch!

I book it as a debit to the Expense:Taxes account and a credit to the 
Assets:Checking (or whatever).  I wouldn't consider it income, since 
it's money you've already paid out as an expense coming back to you.

IANAA, but I look at it similarly to purchasing something at WalMart, 
then returning it for a refund.

HTH,
-- 

Seeya,
Paul
--
	It may look like I'm just sitting here doing nothing,
   but I'm really actively waiting for all my problems to go away.

	 If you're not having fun, you're not doing it right!