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I have booked some flight tickets using Debit Card and then later had to cancel them. I received part of the money after cancellation fee is deducted. What is a good way to record this type of transactions in GnuCash?

Sample Transaction in chronological order is as follows:

1.Bank Acc---->Expense:Flight_Ticket: 1000 USD
2.Bank Acc Received 700 USD After 'Cancellation fee' of 300USD

This is for my personal finance tracking. Any help would be appreciated. Thanks!

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The simplest way to handle this is to just credit the difference between the cancellation fee and the original flight from the same expense account that the 'Expense:Flight_Ticket' was charged to:

Bank Acc----> Expense:Flight_Ticket: 700 Credit (refund sans cancel fee)

If you need or want to account for 'cancellation fees' independently from flight expenses, you can create a separate expense account for them. Then create a split as follows:

Bank Acc --->Expense:Flight_Ticket: 1000 Credit 
    Expense:Cancellation Fee: 300 Debit

Which will result in a net increase of $700 to your bank account.

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