Question about NSF, Refunds, Adjustments

Dianna Broughton dbroughton at comporium.net
Wed Jan 6 21:37:24 EST 2016


Hi everyone,

 

I'm a new GnuCash user and wanted other users' advice about my method of
recording returned check amounts/fees, refunds, overpayments (adjustments)
from customers. I rarely get bounced checks or overpayments, and when I was
using excel for single-entry bookkeeping, I just combined all of this into
one column.

 

I'd like to create an expense account titled NSF, Refunds, Adjustments to
record all of these items (amount of customer's returned check and
associated fee, refunds, and adjustments/overpayments). 

 

Is that a good way to do this or would there be problems? (It's been a while
since I've taken accounting and I'm rusty on my double-entry bookkeeping
skills.)

 

Thank you in advance for your help.

 

Warmly,
Dianna



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