Quick question re splitting bills and borrowing/lending money

[y7anect001 at sneakemail.com]

Thanks, Derek and Roland, for your comments.

As for my fiancee and I combining our finances, we're in a pretty odd situation and I don't think that'd quite work -- the reasoning is kind of convoluted and involves my complete lack of credit history in this country.  Besides, it's a scary thought and we haven't discussed it yet.  :)

In response to Derek's post, is it absolutely necessary to create two accounts, Assets:Fiancee and Expense:Fiancee?  It's not really clear to me what the value is in having both.  Don't I circumvent this by using Split Transactions like so?

Lunch ($20 total) -- Split Transaction -- 
    Expenses:Dining  10 0
    Liabilities:Fiancee  10 0
    Assets:Wallet Cash  0 20

(This is the case where I pay for lunch for both of us and she intends to reimburse me half).

Again, many thanks for the help, it's definitely appreciated.