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#5
02-06-2007, 09:15 PM
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 Re: Refunds, Returns, Reimbursements NOT income Depends on the detail you want -- some folks just track taxable income and expenses, so they lump everything else (both income and expenses) into one miscellaneous category. -- Michael Gordon "Sam" <Sam[at]discussions.microsoft.com> wrote in message news:880470C6-96FA-48BC-81F6-11905CCB3DDE[at]microsoft.com... - quote - > How do I enter refunds, returns, reimbursements, rebates in MS Money 2006 > without showing them as income? |
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#4
02-06-2007, 01:06 AM
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| Re: Refunds, Returns, Reimbursements NOT income Dick is correct (as usual)  - refunds and returns are most certainlyincome. To me the question of whether to handle refunds, returns etc as negative expenses vs. income depends on whether you want to track them as a group. Both methods are correct. I used to track items of this sort in special income and expense categories called Misc Adjustments or something similar. I thought it might be useful to see how much these items amounted to in a year. Turns out that for us the aggregate amounts were small even over a 5-10 year period so I switched to the negative expense method of accounting for them. Regards Bill Wood "Dick Watson" <littlegreengecko[at]mind-enufalready-spring.com> wrote in message news:uKzkPkWSHHA.3428[at]TK2MSFTNGP04.phx.gbl... - quote - > Cal's answer is the best for most users. But I would add to it that in > classical accounting they clearly are income. Not all Income is the same > as Taxable Income. > "Sam" <Sam[at]discussions.microsoft.com> wrote in message > news:880470C6-96FA-48BC-81F6-11905CCB3DDE[at]microsoft.com... > > How do I enter refunds, returns, reimbursements, rebates in MS Money 2006 > > without showing them as income? |
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#3
02-06-2007, 12:21 AM
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| Re: Refunds, Returns, Reimbursements NOT income So I stated. "Guilden_NL" <GuildenNL[at]discussions.microsoft.com> wrote in message news:EFE2FDBE-3B16-40B0-8C91-F623AF409DFA[at]microsoft.com... - quote - > You're technically correct, but for small biz and single citizen > bookkeeping, a negative expense is more often the correct answer in > laymens' > terms. > "Dick Watson" wrote: > > Cal's answer is the best for most users. |
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#2
02-05-2007, 09:15 PM
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| Re: Refunds, Returns, Reimbursements NOT income Dick, You're technically correct, but for small biz and single citizen bookkeeping, a negative expense is more often the correct answer in laymens' terms. Given how Money reporting works (not very well), I have them as negative expenses because in my mind, I bought the product with the rebate deducted from the gross price. But dependent on your approach to keeping track of your expenses, you could lump it in income. Normally this is done in business when rebates are connected to volumes and the rebate amount isn't known until end of the tracking period. -- MSI K8N Neo4 Platinum SLI AMD64 Athlon 3800+ x2 GSkill 4 x 1GB DDR SATA:WD 74GB 10,000RPM;2x WD 80GB 7,200RPM eVGA GeForce 7800 GT 256MB Enermax 600W ATX Power Supply ThermalTake VA8000 Case "Dick Watson" wrote: - quote - > Cal's answer is the best for most users. But I would add to it that in > classical accounting they clearly are income. Not all Income is the same as > Taxable Income. > "Sam" <Sam[at]discussions.microsoft.com> wrote in message > news:880470C6-96FA-48BC-81F6-11905CCB3DDE[at]microsoft.com... > > How do I enter refunds, returns, reimbursements, rebates in MS Money 2006 > > without showing them as income? |
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#1
02-05-2007, 08:03 PM
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| Re: Refunds, Returns, Reimbursements NOT income Cal's answer is the best for most users. But I would add to it that in classical accounting they clearly are income. Not all Income is the same as Taxable Income. "Sam" <Sam[at]discussions.microsoft.com> wrote in message news:880470C6-96FA-48BC-81F6-11905CCB3DDE[at]microsoft.com... - quote - > How do I enter refunds, returns, reimbursements, rebates in MS Money 2006 > without showing them as income? |
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02-05-2007, 05:01 PM
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| Re: Refunds, Returns, Reimbursements NOT income In microsoft.public.money, Sam wrote: - quote - > How do I enter refunds, returns, reimbursements, rebates in MS Money 2006
Show them as negative expenses.> without showing them as income? |
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#-1
02-05-2007, 04:08 PM
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| Refunds, Returns, Reimbursements NOT income How do I enter refunds, returns, reimbursements, rebates in MS Money 2006 without showing them as income? |
| Tags |
| income, refunds, reimbursements, returns |
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