gnucash-devel digest, Vol 1 #160 - 13 msgs

[Amit Sathe]

> Message: 2
> From: David Keegan <dksw@eircom.net>
> To: gnucash-devel@lists.gnumatic.com
> Subject: How do I do this?
> Date: Tue, 26 Sep 2000 19:55:21 +0100
>
> Hi,
>
> I am considering using gnucash to track family finances. Apart from
> the usual things, I need to record money owed by me to my wife and
> vice versa.
>
> If for example my wife buys some food, the transaction should hit her
> bank account and the food expenses account in the normal way, but as I
> am responsible for food expenses, I want at the same time to record
> the fact that I now owe her the amount she spent on food.
>
> Obviously I can use another account to represent the money I owe my
> wife, and enter a second transaction which hits this account and some
> other "balancing" account. This is a bit cumbersome as it involves
> entering two transactions instead of one.
>
> Is there a more streamlined way I can do this?
>
> Thanks,
> David.
>
You can use traditional accounting principles to do this. Consider cash
account as only your cash. So your wife is now a creditor for all cash she
spends on your behalf. The accounting entry then sahll be :

Expenses a/c dr
to mrs keegan a/c ( you will have to open this a/c)

if you spend on her behalf debit to her account not to expenses.


Regards

Amit