Michael - That was a very good "stepping back" explanation. I think he is trying to record the shipping expenses both as shipping "Expense" and also have a reduction in the Income from the sale.
On Fri, Nov 22, 2024 at 11:12 AM Michael or Penny Novack via gnucash-user < gnucash-user@gnucash.org> wrote: > On 11/21/2024 6:32 PM, Boniforti Flavio wrote: > > Hi Michael. > > Thanks for your message. > > You mean this type of view? > > image.png > > F. > > > The view is right, but the transaction isn't. The problem is that > accounts of type income and expense are on opposite sides of the ledger. > > Let's step back for a bit and discuss the transaction in terms of what > happened. You had an item of inventory on your books for U. You sold it > for V, the buyer giving you a check for V which you deposited in your > bank account. But part of this deal was that you pay for shipment to the > buyer and that cost W, which you paid for somehow, a check, money from > your pocket, a credit card, etc. > > Is that a correct description? > > So you had a decrease in an asset (of all of its value, U) and an > increase in an asset (bank account goes up by that deposit V) and an > increase in income (sales) for the > 'profit, not including expenses V-U) and so far in balance with > total debits = total credits ------ REMEMBER, an increase of an account > of type income is a credit. > > BUT --- you also had an expense for the shipping cost X (a debit) which > you paid for somehow, a credit to a bank account, a wallet, or a credit > card charge. > > In your entry, you have BOTH the income account and the expense account > as credits. Expense accounts are on the debit side of the ledger. > > 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 > ----- > Please remember to CC this list on all your replies. > You can do this by using Reply-To-List or Reply-All. > -- _________________________________ Richard Losey rlo...@gmail.com Micah 6:8 _______________________________________________ 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.
