swaitsandClaude Opus 5.5
52555262a8
Each party's part of an entry is signed as its own account would show it, with a direction and its cash and in-kind amounts; a reversal is its original negated. Totals on a cash or all basis: for a member, all equals the members' equity statement and cash the K-1's cash. Money is cash, cards and the financing accounts, and a liability credit never pays its own creditor (creditor_of), so accruals and declared distributions count once. tin_last4 from the TIN or W-9 facts. Co-Authored-By: Claude Opus 5.5 <noreply@anthropic.com> Claude-Session: https://claude.ai/code/session_01T3gXMVt7XJPi6ens1or9Dj
93 lines
2.6 KiB
TOML
93 lines
2.6 KiB
TOML
# P3 defect 24 and the card rule (found in review, 2026-10-21): the
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# company's cards are the liabilities whose names say "card", so a gift
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# card the company sold (deferred revenue) read as money: received when
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# sold and again when redeemed. Regression
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# test: ledger-core tests/spec_party_totals.rs
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# defect24_a_gift_card_sold_is_received_once.
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# The shape: bookspec/README.md.
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id = "p3-party-gift-card-is-a-promise"
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title = "A gift card the company sold is a promise, not a card it pays with"
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rule = """
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The company's cards are liability accounts whose names say "card", but not
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"gift card": gift cards the company sold are revenue it owes its customers
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in service (deferred revenue), a promise. Selling one is money received
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from the buyer; redeeming it moves no money and counts nothing.
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"""
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status = "CONVENTION"
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sources = [
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"DECISION (owner, 2026-10-20): money is cash, cards, the members' financing and loans; every other liability is a promise, counted when settled (wanderbooks rules.md B-35 item 5)",
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"Helvering v. Price, 309 U.S. 409, 412-413 (1940): a promise to pay is not payment (docs/spec/sources/helvering-v-price-1940.md)",
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]
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tags = ["parties", "cards", "deferred-revenue", "money"]
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[setup]
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currency = "USD"
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fiscal_year_start = "01-01"
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basis = "accrual"
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rounding = "half-even"
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cash_accounts = ["1000"]
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[[setup.accounts]]
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code = "1000"
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name = "Checking"
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type = "asset"
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[[setup.accounts]]
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code = "2050"
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name = "Business Card"
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type = "liability"
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[[setup.accounts]]
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code = "2410"
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name = "Gift Card Liability"
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type = "liability"
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[[setup.accounts]]
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code = "4000"
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name = "Revenue"
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type = "revenue"
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[[setup.parties]]
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name = "Riley Chen"
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roles = ["customer"]
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[[events]]
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date = "2026-03-01"
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description = "Gift card sold"
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parties = [{ party = "Riley Chen" }]
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lines = [
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{ account = "1000", side = "debit", amount = "100.00" },
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{ account = "2410", side = "credit", amount = "100.00" },
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]
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[[events]]
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date = "2026-03-05"
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description = "Gift card redeemed"
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parties = [{ party = "Riley Chen" }]
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lines = [
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{ account = "2410", side = "debit", amount = "100.00" },
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{ account = "4000", side = "credit", amount = "100.00" },
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]
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[[expect]]
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query = "party_part"
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entry = 1
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party = "Riley Chen"
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values = { resolved = "-100.00", direction = "received", cash = "-100.00", in_kind = "0.00" }
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[[expect]]
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query = "party_part"
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entry = 2
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party = "Riley Chen"
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values = { resolved = "100.00", direction = "neither", cash = "0.00", in_kind = "0.00" }
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# Before the review: 200.00.
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[[expect]]
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query = "party_totals"
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party = "Riley Chen"
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basis = "all"
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from = "2026-01-01"
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to = "2026-12-31"
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values = { paid = "0.00", received = "100.00" }
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