News for hackers. Stuff that matters.

A comment on Using GnuCash as a Freelancer to Track Finances and Prepare Taxes. Parent comment

Re:Using GnuCash as a Freelancer to Track Finances and Prepa... by kerkeslager on Tuesday April 17, 2018 @03:37PM (#16861585)
You're still causing a ~3% loss to the vendor every time you spend money using a credit card.
[ Parent | on HN ]
Re:Using GnuCash as a Freelancer to Track Finances and Prepa... by Mindless2112 on Tuesday April 17, 2018 @05:55PM (#16862663)
The vendor has calculated the transaction cost into their prices. You're paying ~2% more than necessary if you pay with cash.
[ Parent | on HN ]
Re:Using GnuCash as a Freelancer to Track Finances and Prepa... by ThrustVectoring on Tuesday April 17, 2018 @06:00PM (#16862696)
The vendor often isn't even getting that 2% anyhow - it's dead losses from cash-handling expenses and employee theft.
[ Parent | on HN ]
Re:Using GnuCash as a Freelancer to Track Finances and Prepa... by kerkeslager on Tuesday April 17, 2018 @07:15PM (#16863143)
Not if I shop at cash only places.

Is it feasible to do this all the time? No. But quite often it is.

[ Parent | on HN ]
Re:Using GnuCash as a Freelancer to Track Finances and Prepa... by spookthesunset on Tuesday April 17, 2018 @07:44PM (#16863335)
I personally believe most of the "cash only" places (or places that beg you to pay cash) only do so to get out of paying taxes. It's a lot easier to underreport your income if your whole business is cash.
[ Parent | on HN ]
Re:Using GnuCash as a Freelancer to Track Finances and Prepa... by ThrustVectoring on Tuesday April 17, 2018 @08:38PM (#16863674)
Many businesses are cash-only because they had so much credit-card fraud associated with them that no merchant bank is willing to process their payments.
[ Parent | on HN ]
Re:Using GnuCash as a Freelancer to Track Finances and Prepa... by kelnos on Tuesday April 17, 2018 @09:27PM (#16863916)
That doesn't refute the argument for having and using a credit card for places that do take credit cards, when you inevitably run across one of them.
[ Parent | on HN ]