Need Help with accounts

[Mark Phillips]

Thanks! Just what I needed!

Mark
Sent from my Android phone.
On Apr 3, 2013 4:40 PM, "James Kerr" <jim at jkerr82508.free-online.co.uk>
wrote:

> On 04/04/2013 12:00 AM, Mark Phillips wrote:
>
>> On Wed, Apr 3, 2013 at 3:56 PM, Mark Phillips <mark at phillipsmarketing.biz
>> >**wrote:
>>
>>  I have a simple checking account setup. I overpaid a vendor, and they are
>>> sending me a check in the mail for the amount that was overpaid. The
>>> vendor
>>> already cashed the full check, so they have to send me a check for the
>>> amount that was over paid. I have already reconciled the checking
>>> account.
>>>
>>
>
>> I have these accounts set up -
>>
>> Checking account -  withdrawal $100
>> Expenses account - expense $100
>>
>> When the vendor's check arrives, I would do the following:
>>
>> Checking account - deposit $100
>> Income account (name??)  $100
>>
>
> Not an income account - use the expense account that you used for the
> original payment. So that the total of your expenses will be correct.
> (I assume that both the original payment and the refund occur within the
> same financial year.)
>
>  Is there a way I can show that I am waiting for this $100 check from the
>> vendor in gnucash?
>>
>
> Assets - Accounts Receivable  100
> Expense   100
>
> When you receive payment:
>
> Checking  100
> Assets - Accounts receivable    100
>
> Jim
>
>
>
> ______________________________**_________________
> gnucash-user mailing list
> gnucash-user at gnucash.org
> https://lists.gnucash.org/**mailman/listinfo/gnucash-user<https://lists.gnucash.org/mailman/listinfo/gnucash-user>
> -----
> Please remember to CC this list on all your replies.
> You can do this by using Reply-To-List or Reply-All.
>