Hi, Geoff. Thanks for the reply. That's a good idea to keep in mind when I do know the discount ahead of time and am pretty sure I will use the discount.
On Mon, 2024-10-28 at 07:43 +0100, Geoff Jankowski wrote: > Hi, > > If you know the discount in advance, it can be added as a line in the > bill (-20$) analyzed to the same expense account. If the discount > arises later, they should issue a revised invoice or credit note but > rarely do so you will have to enter it manually. Again, make sure the > expense is analyzed correctly to properly reflect the expenditure on > the project. > > Geoff > +33 6 22 93 00 53 > +44 7770 58 48 38 > > > On 28 Oct 2024, at 00:59, Default User <hunguponcont...@gmail.com> > > wrote: > > > > Hi, Murugan. > > > > Thanks for the tip. > > I am not familiar with credit notes (yet). > > But I will check it out. > > > > > > > > > > > On Sun, 2024-10-27 at 23:40 +0000, Murugan Mariappan wrote: > > > Since you are utilizing the business function to register a bill, > > > a > > > more efficient approach would be to create a credit note for the > > > transaction. By doing this, all your reports will accurately > > > reflect > > > the discount, making it easier for you to reference and track > > > your > > > financial data. > > > Please review the attached image to see if this solution meets > > > your > > > needs. > > > > > > > > > > > > > > > Saludos Cordiales > > > Murugan > > > From: gnucash-user <gnucash-user- > > > bounces+m.muruganandam=hotmail....@gnucash.org> on behalf of > > > Default > > > User <hunguponcont...@gmail.com> > > > Sent: 27 October 2024 18:55 > > > To: Derek Atkins <de...@ihtfp.com> > > > Cc: gnucash-user@gnucash.org <gnucash-user@gnucash.org> > > > Subject: Re: [GNC] Accounting for partial payment of bill from > > > vendor > > > Hi, Derek. Thanks for the reply. > > > > > > I was thinking of doing something like that. > > > Maybe creating an Income:Discounts Received account, and > > > crediting > > > $20 > > > to that from Liabilities:Accounts Payable. > > > > > > I had thought of doing that as a separate transaction, added > > > directly > > > to the account registers. I did not think of adding a credit > > > split to > > > the existing transaction, as I thought that might mess up however > > > GnuCash does its internal handling of payments using Business -> > > > Vendor > > > -> Find Bill -> Process Payment. > > > > > > Since this would seem to be a common scenario, was surprised that > > > I > > > could not seem to find a way to have GnuCash "handle it > > > automatically". > > > > > > > > > > > > > > > > On Sun, 2024-10-27 at 17:23 -0400, Derek Atkins wrote: > > > > Hi, > > > > > > > > IANAA.... Having said that, the way I would handle it is to > > > Process > > > > Payment for $200, and then go in and split the transaction so > > > > you > > > > still > > > > debit A/P the $200, but only credit $180 to your Checking and > > > credit > > > > $20 > > > > to whatever counter-account you are using to keep track of your > > > > discounts. > > > > > > > > -derek > > > > > > > > On Sun, October 27, 2024 5:10 pm, Default User wrote: > > > > > Hi! > > > > > > > > > > This should be a simple question, with a simple answer. > > > > > > > > > > Let's imagine that a customer purchases computer repair > > > > > services > > > > > from a > > > > > vendor on 2024-10-27, for $200.00, due in 30 days. There are > > > > > no > > > > > taxes > > > > > involved.ￜ The vendor will give a 10% discount ($20.00) for > > > early > > > > > payment. > > > > > > > > > > Let's assume, for simplicity, that the customer has these > > > starting > > > > > Account balances: > > > > > $0.00 Liabilities:Accounts Payable > > > > > $0.00 Expenses:Repairs:Computer Repairs > > > > > $200.00 Assets:Current Assets:Checking Account > > > > > > > > > > The customer uses GnuCash Version 4.13, from the default > > > > > package > > > > > repository in Debian 12 GNU/Linux. He enters the bill from > > > > > the > > > > > vendor > > > > > using: Business -> Vendor -> New Bill. This results in:ￜ > > > > > $200.00 debit to Expenses:Repairs:Computer Repairs > > > > > $200.00 credit to Liabilities:Accounts Payable > > > > > > > > > > Then, later the same day, the customer pays the vendor > > > > > $180.00 > > > from > > > > > his > > > > > checking account. > > > > > This results in: > > > > > $180.00 debit to Liabilities:Accounts Payable > > > > > $180.00 credit to Assets:Curent Assets:Checking > > > > > Account > > > > > > > > > > Since he has a $20.00 discount for early payment, he now owes > > > > > the > > > > > vendor nothing. > > > > > > > > > > So, how does the customer enter the transaction(s) in > > > > > GnuCash? > > > > > > > > > > If he uses Business -> Vendor -> Find Bill -> Process > > > > > Payment, > > > > > entering > > > > > a Payment amount of $180.00, the result is : > > > > > $180.00 debit to Liabilities:Accounts Payable > > > > > $180.00 credit to Assets:Current Assets:Checking > > > > > Account > > > > > > > > > > The Asssets:Current Assets:Checking Account balance is now > > > $20.00, > > > > > which is correct. > > > > > But the Liabilities:Accounts Payable balance is $20.00, which > > > > > should > > > > > not be correct, as the customer received a $20.00 discount > > > > > for > > > > > early > > > > > payment. > > > > > > > > > > But if the customer instead uses Business -> Vendor -> Find > > > > > Bill > > > -> > > > > > Process Payment, entering a Payment amount of $200.00, the > > > > > result > > > > > is : > > > > > > > > > > $200.00 debit to Liabilities:Accounts Payable > > > > > $200.00 credit to Assets:Current Assets:Checking > > > > > Account > > > > > The Accounts Payable balance is now $0.00, which would seem > > > > > to be > > > > > correct, as the customer now owes the vendor nothing. > > > > > But the Checking Account balance is now $0.00, which would of > > > > > course > > > > > not be correct. > > > > > > > > > > So, what is the correct way to handle this situation, so that > > > these > > > > > account balances result: > > > > > $0.00 Liabilities:Accounts Payable > > > > > $20.00 Assets:Current Assets:Checking Account > > > > > $200.00 Expenses:Repairs:Computer Repairs > > > > > > > > > > ??? > > > > > > > > > > > > > > > _______________________________________________ > > > > > gnucash-user mailing list > > > > > gnucash-user@gnucash.org > > > > > To update your subscription preferences or to unsubscribe: > > > > > > > > https://na01.safelinks.protection.outlook.com/?url=https%3A%2F%2Flists.gnucash.org%2Fmailman%2Flistinfo%2Fgnucash-user&data=05%7C02%7C%7Ccfb35de6522b46d8b84408dcf6d24c90%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C638656630301008283%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=0%2BdTShI%2FqrRavbDwmzKKxGJZUqyyK9HPVUsW5RYlDww%3D&reserved=0 > > > > > ----- > > > > > 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://na01.safelinks.protection.outlook.com/?url=https%3A%2F%2Flists.gnucash.org%2Fmailman%2Flistinfo%2Fgnucash-user&data=05%7C02%7C%7Ccfb35de6522b46d8b84408dcf6d24c90%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C638656630301031514%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=HttCxo8MrVlyMCHIlklbVMm649O9s%2FPTIatNHDZzmMU%3D&reserved=0 > > > ----- > > > 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 > > ----- > > 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 ----- Please remember to CC this list on all your replies. 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