Hello, Suppose that you go with your friend to a shop, and then a friend remembers that he forgotten his credit card and asks you to pay for his merchandise. He intends to return the money later. You pay in the shop (for example, buy a book) using your credit card. Then a few days later the friend returns his debt - for example, by paying you cash.
I want to document those facts in gnucash. Since the payment to the shop was made by the credit card, an account 'Expenses:<shop name>' is debited, while an account 'Liability:<credit card name>' is credited. I also want to make it explicit that a friend incurred debt due to this transaction. Therefore, it seems to me that this transaction should also contain a split which debits an account 'Assets:Accounts receivable:<friend's name>'. But which account should be credited to balance the transaction? Suppose that I credit some artificial account, like 'Equity:Balancing account' and succeed to balance the transaction. Then when the friend pays his debt, an account 'Assets:Accounts receivable:<friend's name>' should be credited, and an account 'Assets:Cash' should be debited, but what about an account 'Equity:Balancing account' - should it just be left as is (that is, not debited)? It seems a bit artificial. What is the accepted way to document such transactions? _______________________________________________ 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.
