IANAA (I am not an accountant), but I handle that situation in my personal books with an expense account named "Reimbursable expenses". When the money is spent I credit it to Reimbursables, and when the money is repaid, I debit it to Reimbursables.
Will On 2020 Sep 21, at 09-21 09:35:39, Christopher Lam <christopher....@gmail.com> wrote: Well you'd use the description field to describe the narrative of the transaction. "Bought $50 of books from Shop for friend". Later on when friend settles debt into your bank you'd write "recover $50 from friend". This approach would mean the widget shop shouldn't appear in your expense report. IMHO. On Mon, 21 Sep 2020, 10:25 pm Daniel Fishman, <quant...@gmail.com> wrote: > On 9/21/20 5:15 PM, Christopher Lam wrote: >> I wouldn't add an entry into Expenses:shop -- you didn't exactly spend > your >> money into this shop. >> >> Spending/lending money: >> Liability:credit card -$50 >> Asset:Friend owes me +$50 >> >> Recovering funds: >> Asset:Friend owes me -$50 >> Asset:Cash or bank +$50 > > It seems to me that using the > > Liability:credit card -$50 > Asset:Friend owes me +$50 > > loses a bit of information, since a credit card statement will list the > shop > as the receiver of the money. It seems to me that by omitting the shop > from > being mentioned in any of the entries will make it more difficult to > correlate > the credit card statement with an information in gnucash. > > _______________________________________________ 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. _______________________________________________ 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.
