What's the best way to record this?

[Ian X Waddington]

To expand on this, what should you do with an expense that is refunded
because you return something to the store.

If I paid £50 for a new coat on my credit card against expenses clothing
then a week later I returned the coat I would simply enter an identical
transaction with the signs reversed - wouldn't I, how else should I do it?

I see this as the same as for the short term loan question.

Regards

Ian

-----Original Message-----
From: gnucash-user-bounces at gnucash.org
[mailto:gnucash-user-bounces at gnucash.org] On Behalf Of Michael DeBusk
Sent: 03 January 2011 01:49
To: gnucash-user at gnucash.org
Subject: Re: What's the best way to record this?

"Ryan Flegel" <rflegel at gmail.com> wrote:

>What's the best way to record this?

Using a liability account is the correct way. I see nothing wrong with doing
it the other way, though, if it's a one-time thing.


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