personal financing: how to record receiving of a gift (not fixed asset)

[Keith Bellairs]

I think Zhang is correct to credit gift income and debit wine expense. The
wine has been consumed so his equity has not been increased.

On Wed, Feb 20, 2008 at 10:08 AM, Paul Schwartz <pmjs1115 at yahoo.com> wrote:

>
>
> ----- Original Message ----
> > From: Zhang Weiwu <zhangweiwu at realss.com>
> > To: gnucash-user at gnucash.org
> > Sent: Wednesday, February 20, 2008 3:58:25 AM
> > Subject: personal financing: how to record receiving of a gift (not
> fixed asset)
> >
>
> You had no expense for the gift. If you want to reflect it in your Assets,
> the balancing entry should be in Equity.
>
> IANAA
>
> HTH
>
> Paul
>
>
>
>
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