Cash Flow report vs. Income Statement

timzak tzakharov at gmail.com
Tue Jun 16 14:27:27 EDT 2009


I've been using the Cash Flow report to track my monthly income and expenses. 
I've noticed that whenever I have any sort of refund or rebate, and in the
register I input it as a negative expense, I then get "Expense:" categories
listed under the Income section of the report.  Besides looking funny, it
seems to give accurate information.  However, it would make more sense if it
deducted that amount from the Expense account and listed it as a negative
value under Expenses.  Is there a better way for me to handle refunds and
rebates?  What I currently do is, let's say I buy a $10 item at the super
market, which is listed as a debit under the category "Expense:Groceries &
Household".  If I must return the item for refund, I will then input the
refund under Expense:Groceries & Household" and place $10 in the Credit
field instead of the Debit field.

Recently someone on this list mentioned the Income Statement report, so I
tried it out.  It seems very similar to Cash Flow, except it does not list
everything that is on the Cash Flow report.  I don't have a handle on
exactly what the difference is, but I do notice that credit card payments
are NOT listed on the Income Statement report, while they ARE listed on the
Cash Flow report.  Can someone shed some light as to why, and in general,
what the differences between these two reports are?

Many thanks.

Tim
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