On 31 May 2023, at 20:46, Vincent Dawans <dawa...@gmail.com> wrote: > > Personally I would create your Discounts and Bursary accounts as income > accounts, possibly even as subaccounts of your main income account for that > product/service. Yes they will only have rebates (debits) in them, but they > are not an expense, they are a form of reduced income (by choice). The > distinction is important in terms of "true accounting representation". Think > of it with an extreme case. If I said I charge $1 million for this email > advice, but then give you a $999,999.99 discount, as a financial analyst, > would you want to see a P&L with a $1 million income and a $999,999.99 > expense or just a $0.01 income and zero expenses? Because you control each > side here (the price charged and the rebate), they are one and the same, so > it would be the second scenario. > > By it's OK to put it as a "debit" income account, you still have the info in > the details of the accounts and can get it out in a report to show how much > income you forfeited, but a high-level P&L will give you the correct income > (with the rebate) instead of the extra expense. > > Sincerely, > > Vincent Dawans
Thanks, Vincent, Murugan and Stan. As I said, I haven’t been using the Business Features because they’re an added complication, and because our accounts are kept on a cash basis. A Bursary is a grant made to assist a talented student who might otherwise be unable to afford a course. It’s doesn’t usually involve competition (like a scholarship), and is intended to encourage a talented individual to take up a course s/he couldn’t otherwise afford. I’ll look further into Vincent’s and Stan’s suggestions, as I don’t think my method of receiving the students’ payments into the Income: Course Fees account and then topping them up from Expense: Discount and Expense:Bursary to reach the fee that would actually be due will work. Regards, Michael _______________________________________________ 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.
