On 2020-09-21 06:37, Daniel Fishman wrote: > 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. > > Since the payment to the shop was made by the credit card, an account > 'Expenses:<shop name>' is debited,
I don't think so. You have incurred no expense. Instead, you have created an _Asset_, "Loans to friends" or something similar. > while an account 'Liability:<credit card name>' is credited. Correct. > 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>'. Not "also" but only. And of course you would put the friend's name in the Description or Notes field, unless he does this often enough that you want a specific account for your loans to him. > 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, Exactly right. > but what about an account > 'Equity:Balancing account' - should it just be left as is (that is, > not debited)? There shouldn't be one, at least not relative to this transaction. -- Regards, Stan Brown Tehachapi, CA, USA https://BrownMath.com https://OakRoadSystems.com _______________________________________________ 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.
