It will depend upon whether you are maintaining separate books for your personal accounts and your business accounts and separate bank accounts. The process Mike described would be appropriate where your books are totally separate, i.e. you and your business are separate legal entities. From your description it would appear you may be operating as what is called a sole trader in Australia where you are not a separate legal entity from the business and its assets and liabilities are your assets and liabilities and vice versa. There can still be a case for maintaining separate books in this situation, particularly if the business operation is significant.
>From your description you do not appear to be maintaining separate books for your business operation but have business specific accounts in your account structure usually income and expense accounts if your business has no significant assets for example that are associated with the business operations. When do you apportion the bill between your personal use and your business use? If you do it when you receive and pay the bill with your credit card the transaction would be Liability:Credit card Cr xxxx Expense:Personal:Electricity Dr 0.9xxxx Expense:Business:Electricity Dr 0.1xxxx Your annotations in the memo and description fields will need to describe what each split of the transaction is for e.g. "Business use of household electricity" and possibly reference to the basis on which you arrive at the 90%-10% split, if this is not a legislated amount specified by your relevant legislation/regulations. in my case it was simply the percentage of the floor area of the house occupied by my home office and covered utilities, rates, maintenance etc. (the ATO is generous) but other jurisdictions may have other rules and this is where you will need local professional advice. This should be sufficient if you do not maintain a separate bank account for the business and it is only where you maintain separate bank accounts you will need to consider reimbursement of your personal account from your business account. If you do have separate bank accounts come back and we can come up with an alternative. David Cousens ----- David Cousens -- Sent from: http://gnucash.1415818.n4.nabble.com/GnuCash-User-f1415819.html _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
