Debit in an income account and Credit in a Expense Account
PR2021
Member Posts: 1
I am a bookkeeper and is there a way to enter a debit in an income account (for example a refund). I do not want to add another expense account called Refund (best to decrease the income account). And in a similar situation, a credit in an expense account. I don't want to create an income account to reflect a reimbursement of an expense. I do not want to create journal entries for this (seems redundant and extra work).
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Hey @PR2021,
Yes, you can! To do so, you can create a withdrawal transaction, and select the Category "Refund for Income > income account". This will debit the income account
Similarly, you can credit an Expense account by creating an income transaction, using the Category "Refund for Expense > expense account".