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

[R Losey]

If your previous entries are incorrect, you can fix them (if you so wish).

Your shipping expenses will be non-zero if YOU pay the shipping.


On Mon, Nov 25, 2024 at 1:48 PM Boniforti Flavio <boniforti.f at gmail.com>
wrote:

> Hi Richard.
> Thanks for your replies.
> I probably understand now what you mean. This is how my entries look like
> now:
>


> This way my "Shipping costs of sales" account should never be greater than
> ZERO - right? I did it the wrong way probably for the previous 2 sales
> entries?!
>
> BR,
> F.
>
> https://www.instagram.com/boniforti_music
> https://soundcloud.com/boniforti_music
> https://bonny-j.bandcamp.com
>
>
> Am Mo., 25. Nov. 2024 um 20:41 Uhr schrieb R Losey <rlosey at gmail.com>:
>
>> The wonder and beauty of GnuCash is that you can do whatever works for
>> you... as long as the end results are correct. These days, I prefer to
>> enter an action as one transaction with multiple splits; in the past, I
>> used to use multiple transactions for an action.
>>
>> Remember, since the buyer is paying you for shipping expenses, your net
>> change in that account should be zero. So, the money he pays you is a
>> "credit" in the Expenses account (right-hand side). [It will be labeled
>> "Rebate" because you have formal accounting labels turned off, but don't
>> worry about that.]
>>
>> Remember, at some time in the future, you will have to pay money for
>> shipping, so there will be an entry for that with 35,49 leaving the
>> checking account, and going into shipping expenses as an "Expense" (in
>> formal terms, a "debit") that will zero out the other 35,49 entry.
>>
>>
>>
>> On Mon, Nov 25, 2024 at 11:48 AM Boniforti Flavio <boniforti.f at gmail.com>
>> wrote:
>>
>>> I think this is the only reference to the income into my checking account
>>> (from my initial post):
>>>
>>> "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."
>>>
>>> Thanks anyways - probably it's best for me not to try and put everything
>>> from this sale into one transaction (with multiple splits). I'm not
>>> understanding how to make it work :-(
>>> It will look weird, but I could enter 3 transactions of "income" into my
>>> checking account: 800 (which I use to "zero" the value of my instrument),
>>> 35,49 (for the shipping) and a third one which goes into my "gain"...
>>> What do you think?
>>>
>>> F.
>>>
>>> https://www.instagram.com/boniforti_music
>>> https://soundcloud.com/boniforti_music
>>> https://bonny-j.bandcamp.com
>>>
>>>
>>> Am Sa., 23. Nov. 2024 um 17:37 Uhr schrieb Michael or Penny Novack via
>>> gnucash-user <gnucash-user at gnucash.org>:
>>>
>>> > On 11/23/2024 7:58 AM, Boniforti Flavio wrote:
>>> > > Hi Richard.
>>> > > It's one payment I got from the buyer, which includes both the value
>>> of
>>> > the
>>> > > goods and the shipping costs.
>>> > > F.
>>> >
>>> > It would have helped me give you advice had you said that earlier.
>>> > Except you DID say that you had deposited the (entire) payment. So you
>>> > left out of the description how you paid for the shipping.
>>> >
>>> > Michael D Novack
>>> >
>>> >
>>> > _______________________________________________
>>> > gnucash-user mailing list
>>> > gnucash-user at gnucash.org
>>> > To update your subscription preferences or to unsubscribe:
>>> > https://lists.gnucash.org/mailman/listinfo/gnucash-user
>>> > -----
>>> > Please remember to CC this list on all your replies.
>>> > You can do this by using Reply-To-List or Reply-All.
>>> >
>>> _______________________________________________
>>> gnucash-user mailing list
>>> gnucash-user at gnucash.org
>>> To update your subscription preferences or to unsubscribe:
>>> https://lists.gnucash.org/mailman/listinfo/gnucash-user
>>> -----
>>> Please remember to CC this list on all your replies.
>>> You can do this by using Reply-To-List or Reply-All.
>>>
>>
>>
>> --
>> _________________________________
>> Richard Losey
>> rlosey at gmail.com
>> Micah 6:8
>>
>

-- 
_________________________________
Richard Losey
rlosey at gmail.com
Micah 6:8