In the US, credit card rebates are best treated as a contra-expense account for rebates. In other jurisdictions, this might differ.
-p On Fri, Oct 15, 2021 at 12:47 PM R. Victor Klassen <rvklas...@gmail.com> wrote: > The OLD day? We still have a couple of vendors like that. Happily for us > accrual accounting is their problem. > > Sent from my iPhone > > > On Oct 15, 2021, at 12:17 PM, Michael or Penny Novack < > stepbystepf...@comcast.net> wrote: > > > > Perhaps historical perspective might help, especially with businesses, > because might want to treat the same way as when invoices typically were > like this, except conditional on when paid. > > > > I have no idea how accrual treats this (would have treated this) when in > the old days a vendor might send an invoice like this: > > > > Immediate, 2% discount, 30 days net, else 1% per month. > > > > I am old enough to remember those days. Assuming the accrual system > treated the "30 days net" as normal, what was done if paid immediately? > That closely resembles the situation of credit card rebates on purchases. > As to the argument wanting to distribute to reduce all expenses paid > during that billing period, is that also being done in reverse with > interest charges (if any -- often a business credit card is not intended as > a source of credit and balance paid each month -- and SOME people ca manage > that with their personal credit cards too) > > > > > > Michael D Novack > > > > > > _______________________________________________ > > gnucash-user mailing list > > gnucash-user@gnucash.org > > To update your subscription preferences or to unsubscribe: > > https://lists.gnucash.org/mailman/listinfo/gnucash-user > > If you are using Nabble or Gmane, please see > https://wiki.gnucash.org/wiki/Mailing_Lists for more information. > > ----- > > 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@gnucash.org > To update your subscription preferences or to unsubscribe: > https://lists.gnucash.org/mailman/listinfo/gnucash-user > If you are using Nabble or Gmane, please see > https://wiki.gnucash.org/wiki/Mailing_Lists for more information. > ----- > 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@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
