Thank you Michael. I was unsure of how to use this in a double entry account.
WHen I get a discount from a wholesaler, then there is a credit to
Cash discounts,
which is an expense. There is also a corresponding debit to my
checking account.
When I issue a site wide discount there is a debit to the cash
discount but a credit
to the checking account. Am I doing that correctly?
Well at least you understand that your question isn't about using
gnucash to keep your double entry books but about double entry no
matter what you would be using.
What I suggest is that you get a standard "bookkeeping/accounting 101"
sort of text. In this case you would be wanting to look up how business
transactions involving discounts are handled (in other words, what the
bookkeeping transaction would look like). You are bound to have lots
more questions of this :what should I be doing" sort so keep that text
handy.
Gnucash is mostly automating the traditional process, but you still need
to know WHAT you are trying to do.
Michael D Novack
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