[GNC] How to code merchant refunds
Stephen M. Butler
Stephen.M.Butler51 at gmail.com
Wed Mar 24 13:02:13 EDT 2021
On 3/24/21 6:47 AM, Mike via gnucash-user wrote:
> How should merchant refunds be coded? Are they income?
>
> Mike White
From the purchaser point of view: Not income -- you will not pay taxes
on this. It is just a reduction of what you paid. So a reduction of
the expense.
From the merchants point of view: Still not income. Actually a
reduction in income as the merchant now "sells" the product for less
than expected.
So, are you the purchaser or the merchant?
--Steve
--
Stephen M Butler, PMP, PSM
Stephen.M.Butler51 at gmail.com
kg7je at arrl.net
253-350-0166
-------------------------------------------
GnuPG Fingerprint: 8A25 9726 D439 758D D846 E5D4 282A 5477 0385 81D8
More information about the gnucash-user
mailing list