Relating accts receivable and expenses account

[Eric Morey]

On Sat, 2008-10-25 at 16:11 -0400, carpetnailz wrote:
> Consider this transaction for mileage reimbursement from a client (or
> any other kind of item that goes into an expenses account but will be
> reimbursed, such as meals or supplies):
> 
> Credit Gasoline expense: $100
>    Debit Acct receivable from client $100.
> 

Try this instead:
Debit Account Receivable - Gasoline Reimbursable $100

      Credit Cash                                       $100

> Now I get the check     
> 
> Credit Acct receivable  $100
>    Debit Cash  $100
> 


The gasoline is an expense only if the client fails to reimburse the
money. It is actually a bad debt expense at that point.

Eric...
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