2021-03-08 GnuCash IRC logs
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05:00:46 <chris> gjanssens: would be nice to have a formal mechanism for writing off bad debts, and issuing refunds... can't recall if these have an official method
05:02:25 <gjanssens> chris: I don't know either. Issuing refunds should be accompanied by a credit note IMO. I don't know how bad debts are handled formally.
05:02:59 <gjanssens> I suppose it should be treated as a "payment" to a bad debt account ?
05:19:34 <chris> david.carlson may be the one to offer the correct(TM) transaction structure
05:19:47 <chris> or CDB-Man_
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07:37:42 <warlord-afk> .
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07:37:46 <warlord> .
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08:00:42 <chris> maybe warlord has the answers
08:01:44 <warlord> 42
08:02:06 <chris> that too
08:02:21 <chris> not IFRS compliant tho
08:03:41 <warlord> Well, it is the answer to the ultimate question of life, the universe, and everything.
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08:57:23 <CDB-Man_> Credit memo is for refund yes
08:58:00 <CDB-Man_> Bad debt would be debit bad debt expense, credit accounts receivable
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10:01:10 <warlord> chris, what i've done in the past for an invoice that I knew wasn't going to be paid was to process payment and then change the payment transaction to Expenses:Bad Debts
10:01:18 <warlord> (this was a manual operation)
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10:34:14 <chris-phone> I agree this is the correct answer; perhaps the process payment dialog could be extended to include a "bad debt" section to add the expense split. And expand the asset account tree to include expense 🤔
10:35:25 <chris-phone> Other complications: partially paid invoice, and proportion as bad debt. Or, later on, the customer decides to pay. Or, overpayment and apply credit to next invoice, or refund completely.
10:35:44 <chris-phone> I'm not 100% sure the Customer Report can handle all of these scenarios.
10:36:21 <chris-phone> Now I understand why gjanssens allowed the payment transaction to be editable...
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10:42:16 <warlord> Even *I* allowed the payment transaction to be editable!
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10:45:48 <chris> oops sorry warlord
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10:55:36 <warlord> :)
10:59:14 <AdrienM> chris-phone, I just replied in the list thread on the question. Employing an 'Allowance for Doubtful Accounts' as an AR child allows you to close out the original invoice without the appearance that the customer paid. Then you zero that with Expenses:Bad Debts.
10:59:38 <AdrienM> I don't have a link handy, but this I believe is the standard procedure anyway with pen and paper.
11:01:30 <AdrienM> chris-phone, the official method of issuing a discount/refunds after the fact is with Credit Notes. You're looking for something more specific/tailored?
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11:29:28 <warlord> AdrienM, a credit note is not the same as a Bad Debt
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12:55:47 <CDB-Man_> He's saying credit notes for refund
12:55:59 <CDB-Man_> Usually allowance for doubtful accounts is setup ahead of time
12:56:28 <CDB-PHONE> meaning at the start of every year, I do Dr bad debt expense CR AFDA
12:56:41 <CDB-PHONE> estimating an allowance of how much default I expect
12:57:18 <CDB-PHONE> AFDA is a contra account, it's a credit balance asset that sits under ar
12:57:40 <CDB-PHONE> that may create roll up issues on your multi column balance sheet report chris
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20:10:34 <chris> AdrienM: agree that ADFA and Credit Notes are ok numerically but not sure the Customer Report handles them 100% correctly.
20:11:43 <chris> also IMV credit-note to customer mentally sounds like a advance payment rather than a refund
20:12:26 <chris> but either way not major issue
20:12:52 <chris> CDB-PHONE: re: rolling up contra-accounts -- a common issue -- we know INC/EXP can only have INC/EXP subaccounts, ditto EQUITY
20:13:01 <chris> however A/L can have children L/A accounts
20:13:27 <chris> oh wrong: INC/EXP can have EXP/INC subaccounts
20:14:07 <chris> and their placement in Income Statement or Balance Sheet will always be an issue
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20:14:34 <chris> Another view would be: subaccounts are located within the top-level account section
20:19:06 <chris> some #guile news: they've replaced C scm_read() with guile read
20:19:54 <chris> and had to add a lot of backward compat for hacks eg. #tRue = #t, #fAlse != #f
20:20:26 <chris> and are removing the requirement for GMP, by including mini-gmp as a fallback
20:20:33 <chris> and mingw is progressing
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