Accounting Question

Derek Atkins warlord at MIT.EDU
Thu Oct 12 13:23:20 EDT 2006

Business->Employee->Expense Voucher to record the expense.  You can
set it as a billable charge back to the customer.  Then you can 
add it to the customer invoice and charge it back to them.

So you have three sets of related transactions:

 [ Expense Voucher ]
   CC -> Expenses:Hotel
   (which touches into the A/P account..  I think.. I'm not sure if I tested
   the case where all the expenses are CC expenses)

and then:

 [ Invoice ]
  Income:Reimbursed Expenses -> A/R

and finally

 [ Process Payment ]
  A/R -> Assets:Checking

And then when you pay the CC:

 Assets:Checking -> CC


"Crimson Corelio" <crimson.corelio at> writes:

> Alright, here's the situation.
> I'm paying for a hotel room on one of my credit cards.  This expense is a
> business expense which I am going to be reimbursed for.  Now, ordinarily,
> I'd just make this a transfer from the credit card Liability into an A/R
> account and be done with it till I got paid.  And then make the payment a
> transfer from the A/R account into my bank account.  But, I've got an
> invoice system set up to generate invoices for all my consulting expenses
> like this.  So, this also needs to end up as a line item in an invoice.  Now
> invoices apparently can only credit payments to Income type accounts,
> Liability Accounts, or Asset accounts (but not A/R asset accounts).  So I'm
> kinda at a loss at how to do this correctly.
> The Way I think it should work would be something like the following.
> Liability:Credit Card --> A/R:Reimbursable -->Invoice which credits to the
> A/R account --> which is posted to A/R:To Be Paid --> which then transfer to
> Asset:Bank Account upon payment.
> This way the money is always treated as an Asset, which is should be, but
> also works in the invoice system.
> Am I completely crazy and there is a better way to do this or should Gnucash
> be able to do something like this and just can't?
> jesse
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       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL:    PP-ASEL-IA     N1NWH
       warlord at MIT.EDU                        PGP key available

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