Accounting question re tax refund
Andrew Greig
algreig at bigpond.net.au
Mon May 19 10:19:08 EDT 2008
On Mon, 2008-05-19 at 13:26 +0100, Bob Williams wrote:
> I overpaid my income tax and HM Revenue and Customs has kindly sent me a
> cheque. Would you advise me to record this as a negative value in
> Expenses:Income Tax or income in Income:Other Income?
>
> The money isn't actually income, I just accidentally "lent" it to the
> taxman ;). Likewise, it's not tax either, as I should never have sent to
> said taxman in the first place.
>
> I realise that this is an arbitrary decision, but I'd be interested in
> hearing what others have done in this situation.
Head of to Asot and try for some growth ;-)
Andrew
(sorry)
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