[GNC] Why is part of a split registered as "rebate" in the Transfer account?

[David Cousens]

Boniforti,

The entries to record the sale of the instrument would be

Asset:Checking Account      				Dr 1214.00 EU
Assets:Current Assets:Music Equipment EUR:Korg MS-20M     Cr  800.00 EU
Expense:Shipping                                          Cr   35.49 EU
Income:Instrument Sales                                   Cr  378.51 EU

With the formal accounting labels the order of the columns is
 Debit(Dr) Credit(Cr) Balance from the right and the column order is
not changed if you are not using the formal accounting labels. 

The order of the above entries, particularly the first, will depend
upon from which acount register you are making the entries.

If your income from this source is not taxable in your jurisdiction you
can create income sub account placeholders for taxable and non-taxable
income and place the Instrument Sales account under the non-taxable
placeholder account.



On Thu, 2024-11-21 at 22:52 +0100, Boniforti Flavio wrote:
> Hi all.
> 
> I've just sold one of my instruments, for which I already have a
> dedicated
> account "Assets:Current Assets:Music Equipment EUR:Korg MS-20M".
> The opening balance for this item is 800 EUR.
> I now sold it and I got 1214 EUR for it. So I entered 1214 in the
> "Total
> Increase" column, with "Transfer" my EUR Checking account. Then I
> added
> splits:
> 800 "Total decrease" so that the item's value is 0 (as I sold it, I
> don't
> have anymore its value at home) - Transfer = "Korg MS-20M" account;
> 378,51 "Total decrease" (which is the surplus I made) - Transfer =
> "Income:Music Equipment Sold EUR"
> 35,49 "Total decrease", the price I paid for shipping this item to
> the
> seller - Transfer = "Expenses EUR:Post:Shipping cost of sales"
> 
> Now when I look at the last account listed, I see 35,49 in the
> "Rebate"
> column and the "Expense" column is empty - which in the end results
> in a
> negative total:
> [image: image.png]
> What am I doing wrong?
> 
> Thanks,
> Flavio.
> 
> https://www.instagram.com/boniforti_music
> https://soundcloud.com/boniforti_music
> https://bonny-j.bandcamp.com
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