Entering cash-back purchases

[wastaelens at aol.com]

Dave,
Here is how that breaks down.  First, you need to be using a double entry ledger setup, a choice you make (and can change) in your settings.  This setting will display a ledger with two columns, left and right.  This type of setting allows you to do what is called "split transactions"  You can have as many splits as needed to show where the money goes
soda                        $1.75                        charged to whatever account name you have selected for this type of purchase (drinks, sandwiches, snacks, dining, whatever)
cash                       $20.00                        the entry in the leftmost column makes this a deposit to Cash, and should show up as an increase in your Cash account
MyBankAccount                    $21.75         this entry in the rightmost column makes this  Withdrawal from your bank account.
            totals         $21.75    $21.75            
This is a "balanced" transaction.  The money that was removed from your bank account is now shown as an increase in your "Dining" Expense account, and increase in cash on hand in your "cash" Asset account, and a "withdrawal" from your MyBankAccount, and the total amount in each of the two columns (in that transaction) will be equal, or "balanced"

 

 Will  S.

 

-----Original Message-----
From: dave boland <dboland9 at fastmail.fm>
To: gnucash-user <gnucash-user at gnucash.org>
Sent: Mon, Jan 25, 2016 9:49 am
Subject: Entering cash-back purchases

This is sooo frustrating to me.  I go to the store, use a debit (or
charge card) to purchase some thing, get cash back, and have no clue hoe
to enter it into gnuCash.  Yes, I tried to follow the 16 point
procedure, but it is not clear.

So, let's assume I walk in to Joe's Country Store.  I purchase a 2 Liter
bottle of Pepsi for $1.75, and get $20 cash back.  I used my Big Bank
charge card.  What are the steps to enter this into gnuCash (reader's
digest version please)?

Dave,
-- 
  dave boland
  dboland9 at fastmail.fm

-- 
http://www.fastmail.com - A fast, anti-spam email service.

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