How to record: Product purchased and returned for refund

Derek Atkins warlord at MIT.EDU
Sun Oct 29 10:38:30 EST 2006

In the same account.   The first would be:

  Checking -> Expense

The refund would be:

  Expense -> Checking

(Or Credit Card, or whatever)


Quoting Grant <emailgrant at>:

> How do you guys record the debit and credit when you purchased
> something and returned it for a refund?  It seems like it shouldn't be
> recorded as an expense or as income, but how should the debit and
> credit be assigned?
> - Grant
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       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL:    PP-ASEL-IA     N1NWH
       warlord at MIT.EDU                        PGP key available

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