[GNC] How to code merchant refunds

Michael or Penny Novack stepbystepfarm at comcast.net
Wed Mar 24 17:44:37 EDT 2021


On 3/24/2021 10:48 AM, Mike via gnucash-user wrote:
> So you suggest I go to the original entry and reduce the amount spent 
> by the amount refunded?
>
> Mike


No, well not if you want to keep books properly.

a) You should enter a transaction to record this. Normally, when you 
incur an expense, was a debit to the expense and a credit to cash. This 
is simply the other way around, debit cash and credit the expense. The 
description should refer to the original transaction.

b) Even if you were CORRECTING a prior transaction, the proper way is 
NOT to go back and alter the original transaction. The proper way is to 
enter a transactions that makes the correction, indicating in the 
description that this is what you were doing (refer here to the original)

Michael D Novack



More information about the gnucash-user mailing list