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- > [email protected]> on behalf of Default > User <[email protected]> > Sent: 27 October 2024 18:55 > To: Derek Atkins <[email protected]> > Cc: [email protected] <[email protected]> > 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 > > > [email protected] > > > 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 > [email protected] > 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 [email protected] 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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