How to record: Product purchased and returned for refund

Nelson Tang nelson at
Sun Oct 29 12:51:45 EST 2006

On 10/29/06, Grant <emailgrant at> wrote:
> > In the same account.   The first would be:
> >
> >   Checking -> Expense
> >
> > The refund would be:
> >
> >   Expense -> Checking
> >
> > (Or Credit Card, or whatever)

This will probably show my ignorance of basic accounting, but if the
refund happens in another reporting period, like the following month,
then won't the reports be somehwat confusing?  In other words, the
previous month will show the charge and the following month will show
the refund.  If you didn't know that there was a refund coming for a
large charge, it would appear that you spent a lot more in the
previous month.  Is ths just to be expected?


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