How do I account for a promise to pay something?

Maf. King maf at
Sun Nov 23 03:57:04 EST 2008

On Sunday 23 November 2008 04:04:43 Tim Wunder wrote:
> I made a promise to pay my church X dollars for their building fund over
> the next 3 years. What's the best way to keep track of that?
> Right now, I've created a liability, Liabilities:Promise, of $X, debiting
> Opening Balances. When I make a payment against that liability, I credit
> Checking and debit Expenses:Charity, and add a split to debit
> Liabilities:Promise and credit Opening Balances the same amount.
> Is there a better way?
> Thanks,
> Tim

Hi Tim,

Sounds a perfectly reasonable way to keep track to me. IANAA!


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