What is everyone's thoughts on handling reimbursements received for ongoing expenses? In our church arrangement our congregation pays various expenses through the month and then at the end of the month the other congregation is given an invoice and the payment is received. Conceptually easy. I'll be creating the invoice from a spreadsheet for now as this is what the previous treasurer provided to me.
What I'm wrestling with where to put the amounts billed and the funds received. The previous check, the one received for Dec 2019 I merely applied the receipts to the expense accounts but it seems not to be ideal when I run reports later in the year. As I understand it, I could create an AR account under Assets and eventually generate an invoice from that and apply the receipts to it as well. Am I correct? To complicate matters a bit, our budget is currently structured so that the net of these expenses, i.e. total expenses minus reimbursed amounts, is our budgeted amount for these particular expenses. Despite my question a while back I have not gotten back to the budget in GNU Cash. Thanks! - Nate -- "The optimist proclaims that we live in the best of all possible worlds. The pessimist fears this is true." Web: https://www.n0nb.us Projects: https://github.com/N0NB GPG fingerprint: 82D6 4F6B 0E67 CD41 F689 BBA6 FB2C 5130 D55A 8819
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