Ive found a few posts from a couple of years ago but Im still having a hard time understanding how a 401k loan should be accounted for. <br><br>Posts found<br><a href="http://www.gnucash.org/pipermail/gnucash-user/2002-July/004094.html">
http://www.gnucash.org/pipermail/gnucash-user/2002-July/004094.html</a><br><a href="http://lists.gnucash.org/pipermail/gnucash-user/2002-April/003720.html">http://lists.gnucash.org/pipermail/gnucash-user/2002-April/003720.html
</a><br><br>Ive gotten there needs to be a liability account for the loan, expense accounts for the principal and interest, income account for the principal and interest (because essentially the money isnt really an expense because it is going into an asset account.) What Im unsure of is how the flow should work from the deduction of the loan repayment from a pay to it effecting the liability account, the expense accounts, income accounts, and finally the 401K asset account.
<br><br>A description of the account setup for a 401K loan would be most appreciated or some additional explainations for the posts above are equally welcome. <br><br>Thanks,<br><br> Bill<br><br><br><br><br>