Where do I place incoming money that's not Income?

Maf. King maf at chilwell.net
Sat Nov 18 14:27:34 EST 2006


On Saturday 18 November 2006 17:31, Leo Breebaart wrote:
> I have a small newbie 'policy' question on where to place certain
> information in my GnuCash account structure.
>
> A while back my mobile phone was stolen while I was on holiday.
> Eventually, the travel insurance company paid up, and deposited
> money in my bank account.
>
> My question: what account do I put on the *other* side of the
> ledger? My first thought was to simply record it as a 'rebate'
> entry on Expenses:InsurancesPremiums:Travel, but that obfuscates
> the primary purpose for the parent account. I want to track how
> much I spend on insurance premiums per year, and the rebate money
> should not be part of that equation.
>
> Or I put in "Income:Misc", but that feels so odd, because it's
> not really 'income', now is it?
>
> A third possibility is to place it as a rebate in
> Expenses:Tech:Hardware instead, which is where the cost for the
> replacement phone was put. I think I like this option the best,
> because there the rebate does contribute correctly to the
> subtotals in the branch. I did *not* spend X+X on two phones that
> year, I spent X+(X-R), with R being the money from the insurance.
>
> Or, quite possibly, I am over-thinking this mightily, and I
> should get a life instead of wondering about the optimal
> administration of a couple dozen EUR... :-)
>
> Still, any "this is how *I* would do it" feedback will be more
> than welcome.

Hi,

I think I might record it as income:insurance payout  (or similar).  The 
rebate in the expenses:tech:hardware also makes good sense to me...

just my tuppence...
Maf.


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