Problem with transaction types

[Bill Wohler]

120010362905 at post8.tele.dk writes:

> On January 27th I pick up something for a friend at a store.

Create an Asset account for your friend and transfer the funds from
that new account into your credit card.

> My friend des not want to have any outstandings, so he makes a
> transfer from his bank to my bank on January 31st. All settled then.

At that time, transfer the funds from his asset account to your
checking account (or wherever he wired the funds). Then his asset
account is 0. All settled then.

I actually have an Asset > Accounts Receivable account. For folks who
borrow money a lot, I have separate accounts for them. For one-time
shots, I'll just use the Asset > Accounts Receivable account directly.

-- 
Bill Wohler <wohler at newt.com>  http://www.newt.com/wohler/  GnuPG ID:610BD9AD
Maintainer of comp.mail.mh FAQ and MH-E. Vote Libertarian!
If you're passed on the right, you're in the wrong lane.