confusion about lending money
chris
reddaemon@shaw.ca
04 Nov 2002 01:50:32 -0700
hi. i have started using gnucash recently and i really like it. however
i have some transactions i would like to enter but i am not sure how to
do so.
i hold the lease on my apt and my roommate bob (names and figures are
made up) pays me half the rent. rent is 600. rod was short this month so
i spotted him 20. i would like to keep track of how much he owes me
because the amount he really owes is alot to me.
so i was wondering
how do i enter in the initial transaction?
how do i settle the accts if he pays me?
how do i settle the accts if i force him to pay a bigger share of the
cable/internet bill to even things out?
how do i settle the accts if he doesnt pay me and i cant make him pay a
bigger share of the cable/internet bill?
if i am not mistaken the money rod owes me is an acct receivable and is
an asset. i am pretty sure that a/r rod is supposed to have a positive
balance and that cash gets credited.
db cr
rent 600
cash 300
money from rod 280
cash 20 money lent to rod
a/r rod 20 a/r rod has positive balance now
??? 20
this looks mostly right but its imbalanced. there is something i need to
do but what?
payment
db cr
money from rod 20
cash 20 cash is increased
a/r rod 20 should be made zero
??? 20 imbalance. whats wrong?
if i consider ??? an account everything balances :)
force him to pay a bigger share of the cable/internet bill
db cr
cable/internet 25 this is what i wish i was paying :)
cash 5
a/r rod 20
i think i have this right
write it off
db cr
money lost 20 *sniff* goodbye :(
a/r rod 20
i think i have this right too.
help me please :)
cmoline