On 2 November 2017 at 08:19, Tony Vanson <tonyvan...@gmail.com> wrote: > Hi all, > First time here, so please excuse my accounting ignorance. > Whilst I understand some of the GnuCash basics, I have a problem which I’m > hoping I can get some help on. > I’m currently residing overseas and we employ a staff member. > This person has asked for a personal loan, which I have given, paid by cash > from my bank account > I shall use generic amounts for the details. > > This person is paid a total 600.00 per month, split 300.00 paid on the 11th > and 25th of each month. > The loan is for 2000.00 with 250.00 repayable on the 25th of each month for 8 > months. I do not charge interest. > So on the 11th of the month she receives 300.00 and on the 25th 50.00 cash > with 250.00 being for the loan repayment. > My question is: how do I enter this in GnuCash? > I already have a bank account and have set up a ‘money owed’ account as an > asset which shows the 2000.00 owing. > I have also set up a ‘loan repayment’ account as income.
The loan repayment should not be an account. When you receive money it should be recorded as a transfer from the money owed asset account to your cash account (or checking acct or wherever it ends up). This then reduces the amount in the loan account and increases the amount of cash you have, as it should. Colin _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
