Examples for entering transaction

[Vincent V]

Ralph
Here is another method of achieving what you want, but you have to be 
clear about what it is you are trying to represent. If the account is 
your personal account then you own all the goods until your girlfriend 
pays you back at which point you only only own half of them. If it is a 
set of joint accounts  then you both own them but your girlfriend still 
owes the account until she pays. You can arrange it to mix the two but 
then the 'net worth' figure (assets - liabilities + equity) will not be 
right.
I'm assuming these are your accounts

Accounts
Things we bought (asset)
My girlfriends share (liability)
My girlfriend owes  (asset)
My bank (bank)  -or credit card or whtever


Transaction Buy TV
   Cost: My bank -> Things we bought
   Cost/2:My girlfriend owes -> My girlfriends share

Note that your net worth has not changed, you have simply 'exchanged' 
cash for a TV - which you currently still own completely. When your 
girlfriend pays you back you lose the 'asset' of what she owes you but 
your equity remains the same, Your liability to her (i.e. her share of 
the joint goods) must also remain so you must 'transfer' the asset.

Transaction Payed me back
   Cost/2:My girlfriend owes -> My bank

I have attached a sample accounts to show this

Hope that this helps

Vincent Valvona




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