A place for new bills...

Jason jason at cougarcorp.net
Thu Oct 5 21:21:04 EDT 2006

r3al1tych3ck wrote:
> I was wondering about entering bills as I received them.  Would a good
> way to do this be something like setting up an "Unpaid Bills" liability
> account?

This really does depend on your personal style I guess. I don't keep an
'unpaid bills' tally anywhere, instead transferring money directly from
bank/credit card to the appropriate expense account when I pay them off.

I suppose if you wanted to set up an 'unpaid bills' account, it would be
a liability, but I'm not exactly sure where the 'source' would come from
(double-entry bookkeeping, the deficit has to come from *somewhere*).

When you pay these bills off then, you have to deal with a multi-way
transfer. The money comes from bank/credit card into the liability
account which also has to update the proper expense account.

Wow, the more I think about that the more complex it seems to get!


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