Robert, Would the Credit Note facility not suit to record what essentially becomes a reversal of part of an Invoice which would be included in the Customer report? The discussion of the implementation is not all that clear in the manual (https://www.gnucash.org/docs/v2.6/C/gnucash-help/busnss-ar-invoices1.html#busnss-ar-invoicenew2) but there is a little more in the Wiki mainly about it's future implementation in 2012? I gather it was been implemented in 2.6. The Tutorial and Concepts guide mentions it in the section on Invoices but does not discuss what it does in any detail . What a Credit Note should do in principle is to credit the Accounts Receivable by the amount of the repayment and debit any Sales Revenue (Income) and any associated Tax accounts to reverse the corresponding parts of the original transaction. The implementation of the business features is normally pretty rigorous in GnuCash so I think this is what will occur.
Frequently in accounting practice th reversal of the Revenue componentis done by debiting a contra account to the Sales Revenue often called Sales Returns and Allowances. I.e. you have a Summary placeholder account Nett Revenue which has Sales Revenue and Sales Returns and Allowances as child accounts summing into it. Accountants generally prefer this way of doing it as it makes clear how much of the total revenue has had to be refunded which most managers would want to control. You could also simply debit the Sales Revenue account directly with a note in the Description/memo fields if this is not something you need to manage I have not yet checked out whether the Credit Note does actually reverse both part of the original Sales revenue account and any Tax accounts affected, but as it uses the Invoice structure to implement it, it should do so using any tax tables you have in place for your Invoices. When you make the actual repayment to the customer, the transaction will be a credit to your Check/Bank account for the amount of the refund and a corresponding debit to the Accounts Receivable for the amount of the refund which reverses the credit entry made to Accounts Receivable when you post the Credit Note. David Cousens ----- David Cousens -- Sent from: http://gnucash.1415818.n4.nabble.com/GnuCash-User-f1415819.html _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org 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.
