Dealing with business items paid for with a personal credit card

[Wouter van Marle]

On Sun, 2006-05-07 at 23:08 -0700, Des Dougan wrote:
> I found it necessary during last month to use a personal card for goods
> which I acquired on behalf of clients. I use GnuCash solely for my
> business, and I would like to determine how I can show these purchases
> correctly so that my income is not over-stated.

Just add a credit card account to your business account tree the way it
is described in the manual (account type "credit card"), and add only
the items that are related to your business into GnuCash. That's how I
do it.

When paying off the credit card, I always pay everything from my company
account, booking the cheque as split transaction: partly to the credit
card, partly as personal cash taking (which is an equity account; see
thread from me a few weeks ago), thereby accurately setting the date of
the particular transaction by credit card, and accurately keeping my
income. You could of course also make separate payments from your
company and personal account, and again only book the company payment to
that credit card account. 

Wouter.

> 
> Thanks in advance for any pointers.
> 
> Regards,
> 
> Des