Hi Geoff. I have bought the item in Euros, correct. The seller then sent a refund in Euros to my PayPal account. As I'm in Switzerland and PayPal knows this, I can only withdraw from PayPal in the currency of my official residence (CHF). So I sent the equivalent of EUR 50 (CHF 46.56) to my CHF checking account.
As of now, I entered it like this: [image: image.png] (I'm creating a sub-account for each of my instruments I buy and eventually sell - thus you see only a couple of transactions). So, first I credited the sum I paid for the instrument on my EUR checking account. As the account "Roland SH-101 grey" is in EUR, I entered the reimbursement in EUR (50) but debited it to my CHF checking account. In there, I set the currency transfer "from EUR to CHF" to be 46,56. This is the CHF sum I received on my CHF checking account. As it was a reimbursement, I credited it to the sub-account "Roland SH-101 grey", and I think it finally is ok as the balance is reflecting the value of the instrument including the partial reimbursement. What do you guys think? Thanks, F. https://www.instagram.com/boniforti_music https://soundcloud.com/boniforti_music https://bonny-j.bandcamp.com Am Mo., 14. Okt. 2024 um 19:47 Uhr schrieb Geoff Jankowski < geoff.jankow...@me.com>: > I am not sure Stan has fully understood your transactions but I can see > why ( I think). > > Based on the subject line, you have bought in euros then been refunded via > PayPal which (bizarrely, but it has happened to me as well) has credited > the refund in CHF? Is that right? > > If so, 1, enter the purchase as full value to the checking account > analysed to the asset account; 2, enter the refund in CHF to your PP > account and analyse it to the same asset account which will recognize the > currency change and give you a dialogue box where you can edit the exchange > rate so it is manual and set it to 50 euros. > > All accounts should then be correct. > > If I have also misunderstood please let me know. > > Geoff > +33 6 22 93 00 53 > +44 7770 58 48 38 > > > On 14 Oct 2024, at 17:45, Stan Brown (using GC 4.14) < > stan...@fastmail.fm> wrote: > > > > > > On 2024-10-14 04:10, Boniforti Flavio wrote: > > > >> I bought an item for 1050 EUR, which I took from my EUR checking > account. > >> Then the seller reimbursed 50 EUR because of some issues on the item. > This > >> reimbursement in EUR was done via PayPal, where I do have both EUR and > CHF > >> currencies. > >> I paid out CHF 46.56 from PayPal to my CHF checking account. > >> > >> Now... how do I enter this transaction correctly? > >> The item I bought is registered in a EUR asset account - Increase of > 1050 > >> EUR. > >> Now I would enter a "decrease" transaction to reduce its value of 50 > EUR, > >> but I have to take this money from the CHF checking account. So what's > the > >> correct way to do this? Should I select my "CHF checking account" for > the > >> "transfer" column, but enter the value in EUR (50) and then apply the > >> currency conversion? > > > > I believe thinking of "this transaction" (singular) makes it seem harder > > than it than it actually is. I see two or three transactions here. > > > > (1) Debit the Asset account for the "item" by 1050 EUR, credit checking > > account the same amount. > > > > (2) Credit the "item" 50 EUR for the partial refund, and debit PayPal 50 > > EUR. > > > > (3) Credit your PayPal account CHF 46.56, and debit your CHF checking > > account the same amount. > > > > Notes: > > > > In logic, transaction (3) is really not connected to (1) and (2). You > > could have withdrawn a different amount, or none. So you have at least > > two transactions here. You could condense (1) and (2) into a single > > transaction, but I think it will be clearer what happened if you keep > > them separate -- especially if some time passed between (1) and (2). > > > > I know the "friendly labels" exist, but along with several other posters > > I feel that these things they are actually harder to use than "Debit" > > and "Credit", which have been around for half a millennium or more. A > > number of other posters have made similar comments about "debit" and > > "credit actually making things easier. There's really very little to > > memorize: > > > > ASSETS and EXPENSES: increase is debit, decrease is credit. > > LIABILITIES, EQUITY, and INCOME: increase is credit, decrease is debit. > > > > Stan Brown > > Tehachapi, CA, USA > > https://BrownMath.com > > _______________________________________________ > > gnucash-user mailing list > > gnucash-user@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. >
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