[GNC] Use of cash discounts in business account tree

[Michael or Penny Novack]

> Thank you Michael. I was unsure of how to use this in a double entry account.
>
> WHen I get a discount from a wholesaler, then there is a credit to
> Cash discounts,
> which is an expense. There is also a corresponding debit to my
> checking account.
> When I issue a site wide discount there is a debit to the cash
> discount but a credit
> to the checking account. Am I doing that correctly?

Well at least you understand that your question isn't about using 
gnucash to keep your double entry books  but about double entry no 
matter what you would be using.

What I suggest is that you get a standard "bookkeeping/accounting 101" 
sort of text. In this case you would be wanting to look up how business 
transactions involving discounts are handled (in other words, what the 
bookkeeping transaction would look like). You are bound to have lots 
more questions of this :what should I be doing" sort so keep that text 
handy.

Gnucash is mostly automating the traditional process, but you still need 
to know WHAT you are trying to do.


Michael D Novack