Indeed.

FDDI!

"Chris Cowles" <spam_magnet[at]remove-me-bellsouth.net> wrote in message
news:uS1klG4RGHA.4976[at]TK2MSFTNGP11.phx.gbl...
- quote -

"Dick Watson" <littlegreengecko[at]mind-enufalready-spring.com> wrote in
message news:%23gl1st2RGHA.4384[at]tk2msftngp13.phx.gbl...
- quote -

I think this conversation is going the way of top- vs. bottom-posting
arguments. On a recent one of those, I saw:

Token Ring!
Ethernet!
Token Ring!
Ethernet!

I was amused. I hope you are.

When viewing a transaction as a stand alone entity, if it make you richer,
it's income. Money you didn't have before and do have now is income. Maybe
not Income or Earned Income to the tax man. Maybe not Income to GAAP. But in
your personal scheme of things it's income.

Every other case you describe involves viewing transactions in the context
of other transactions. This is fine, if one wants to go there. But the
simplest case--and simple is VERY GOOD for most posters and one can't go
wrong with the simplest case--is to view each transaction by itself.

As noted, the FAQ I referred the OP to describes more complex ways to treat
these situations.

"arthur" <trash.all.spam[at]xoxy.net> wrote in message
news51d12h7vk1aa5rhsdqdugn6164a84ks4c[at]4ax.com...
- quote -

Yes that's proper too. A one time petty cash loan does not warrent a
lot of effort IMO. Just being politically correct.

a
==

On Mon, 13 Mar 2006 06:33:24 -0700, "Dick Watson"
<littlegreengecko[at]mind-enufalready-spring.com> wrote:

- quote -

No there was an original outflow ... negative cash. Then that is
backed in when paid. How is that income?

a
==

On Mon, 13 Mar 2006 09:10:50 -0700, "Dick Watson"
<littlegreengecko[at]mind-enufalready-spring.com> wrote:

- quote -

Rebates are not income either. Nor an insurance payment for a medical
bill. Same thing. Buy tickets -- Expense might create a bill. Pay
the bill. Get a refund. All posted to the original category. Non
income.

In the case of the OP, he said in effect the purchase was a loan.
Naturally one is free to keep their accounts as pleases them since
this is personal finance.

arthur
==

On Mon, 13 Mar 2006 06:27:17 -0700, "Dick Watson"
<littlegreengecko[at]mind-enufalready-spring.com> wrote:

- quote -

"Dick Watson" <littlegreengecko[at]mind-enufalready-spring.com> wrote in
message news:%23QjKxKqRGHA.5036[at]TK2MSFTNGP12.phx.gbl...
- quote -

I think Arthur was trying to say it's a reduction of expense, which is NOT
the same thing as income. Of course, that's GAAP, which personal finance is
not.

Duh. Obviously it's just a transfer from the loan account.

One could setup a receivables account and transfer the rebate amount in and
back out. But, in the context of the one transaction the OP is asking about,
I still maintain that it's money coming in and that's income.

"Dick Watson" <littlegreengecko[at]mind-enufalready-spring.com> wrote in
message news:OR8lWHqRGHA.3192[at]TK2MSFTNGP09.phx.gbl...
- quote -

Also note the FAQ referenced in my post that suggests just crediting the
original expense category.

"arthur" <trash.all.spam[at]xoxy.net> wrote in message
news:jo8a12t67iiunmq3rdjo8bnbe281ufvp3d[at]4ax.com...
- quote -

If I don't submit the rebate, what was the extra expense? If you say it's an
expense, then I say getting the rebate is income. Maybe not to a Fortune 500
company under GAAP. But that's not the case in hand. Sure, ideally you could
consider the extra expense a loan you made to whoever offered the rebate.
But if you make a loan, what's the inflow when you get paid back?

"arthur" <trash.all.spam[at]xoxy.net> wrote in message
news:jo8a12t67iiunmq3rdjo8bnbe281ufvp3d[at]4ax.com...
- quote -

"arthur" <trash.all.spam[at]xoxy.net> wrote in message
news:jo8a12t67iiunmq3rdjo8bnbe281ufvp3d[at]4ax.com...
- quote -

The complaints can be turned off in options.
--
Chris Cowles
Gainesville, FL

Dick it is not income in any accounting sense. In accounting one
would handle the transactions like so:

Credit Cash ( assuming not a loan eg credit card )
Debit loan ( cash used to buy ticket is a loan and not a sale )

hopefully one day ...

Debit Cash ( received reinbusement
Credit load ( paid off

So what needs to be done in Money is to create a Loan / Personal item.
Make it an expense ( sure isn't income ). Money might complain but
can be ignored. Think of it like a credit card account.

End of problem

arthur
==

On Mon, 27 Feb 2006 06:27:48 -0700, "Dick Watson"
<littlegreengecko[at]mind-enufalready-spring.com> wrote:

- quote -

For simplicity's sake, you can also net it against the item/category
that generated the rebate.

Dick Watson wrote:
- quote -

"Bill" <Bill[at]discussions.microsoft.com> wrote in message
news:7E35B0D0-FE02-46BE-9268-E4A35677E70A[at]microsoft.com...
- quote -

I created an income category called, "Tax Exempt Income" that I assign to
refunds, etc. Then when I import into my tax software, I don't map to that
category, and it is not imported.

Well, first of all, in a narrow accounting sense, it surely is income. Not
all income fits the IRS definition of Income.

See http://umpmfaq.info/faqdb.php?q=179.

"Bill" <Bill[at]discussions.microsoft.com> wrote in message
news:7E35B0D0-FE02-46BE-9268-E4A35677E70A[at]microsoft.com...
- quote -

how should I handle money that I get repaid for buying a ticket for some one
It is not income.