Adrian, is there a reason you treat the rebate as a negative expense
instead of miscellaneous (non-taxable) income? To me, the rebate is
something you get rather than something you don't give, but my analysis
could be incorrect, and if it is I'd like to know.
RBM
On 12/01/2017 06:02 AM, Mariano, Adrian V. wrote:
I normally record rebates as offsets against the original purchase, so in your
example below I would do it as:
Asset:Bank -$1000
Expense:Electronics $1000
And then when the rebate arrives:
Expense:Electronics -$100
Asset:Bank: $100
I don’t try to record the undiscounted prices of things, since I consider them
basically irrelevant. In many (most?) cases, original “undiscounted” prices
are fictitious values whose purpose is to anchor the price so you feel better
about the price you’re actually paying. I’ll grant that for a $70 discount
perhaps what I’m trying to do is overkill---but it seems like that depends on
how much work it is to do it. If what I tried so far worked it would have
been pretty easy, just a few clicks more work than establishing a normal
Asset:GiftCard account. So why not do it right? And now that I have run into
trouble creating the account that has a 15% discount, I’m curious about how it
can be done at all. Is it indeed a simple matter to set it up the way I
wanted?
From: Christopher Lam [mailto:christopher....@gmail.com]
Sent: Friday, December 1, 2017 3:21
To: Mariano, Adrian V. <adr...@mitre.org>
Cc: gnucash-user@gnucash.org
Subject: Re: How to create an asset with a reduced value compared to my regular
currency (dollars)
This sounds like an overkill. I'd write the original purchase as:
Asset:Bank -$430
Asset:GiftCard: $500
Expense:Rebates -$70
Whereby Expense:Rebates generally collects anything that was purchased at a
discount, and I wish to record the original price as well as the discount. So,
a discounted laptop could be recorded as:
Asset:Bank -$900
Expense:Electronics $1000
Expense:Rebates -$100
Other strategies are valid.
[https://ssl.gstatic.com/ui/v1/icons/mail/images/cleardot.gif]
On 30 November 2017 at 23:11, Mariano, Adrian V.
<adr...@mitre.org<mailto:adr...@mitre.org>> wrote:
I bought a $500 gift card for $430 this week. I would like to add this to
gnucash as some kind of asset so that as I spend it, the correctly scaled
amount gets transferred to the expense account I use. In other words, if I
spend $100 from this account it's really only $86.
I tried to do this by creating a security fund and then using the price editor
to set the price to 0.86. But when I insert a transaction from the new account
to an expense account, it doesn't apply the 0.86 factor. What is the right
way to do what I want to do?
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