How to book loan?
Viktor Rosenfeld
rosenfel@informatik.hu-berlin.de
Mon, 10 Dec 2001 01:34:33 +0100
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Hi Michal,
I think this is what Acounts Receivable and Accounts Payable are for. I
have two acounts:
Geliehen (A/R) of type Asset and
Geliehen (A/P) of type Liability
(Geliehen means lent in German). =20
When I loan some money, I book it as a Debit on my A/R account and when
I get it back I book it as Credit and mark both transactions checked to
keep track of which money I got already back.
When I borrow money, I book it as a Credit on my A/P account and when I
pay it back I book it as Debit. Works well for me, b/c when the balance
is zero on an account, I know that I do not owe any money or that I have
gotten everything back.
HTH,
Viktor
--=20
Viktor Rosenfeld
WWW: http://www.informatik.hu-berlin.de/~rosenfel/
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