How do you manage personal "receivables"?

Rafferty Uy rafferty.uy at gmail.com
Sat Jan 31 05:30:09 EST 2009


Hi,

Just wondering how you guys manage temporary (and extremely short term)
loans by friends?

What I did was to create an Accounts Receivable and Account Payables
account.

If my friend borrows money from me, I'll count it as an expense and place
the entry in accounts receivable. Then when they pay me back, I split the AR
transaction and enter as income the amount payed back. But I'm not sure if
this is the correct way... because the date that the money is payed back is
no longer accurate (because I'm editing an old transaction). However, if I
do it separately, it can be confusing which receivable is payed and which
receivable isn't.

What's the recommended way to do this?


Thanks!


Rafferty D. Uy
Software Engineer @ ease solutions Pte. Ltd.
MBA Student @ National University of Singapore

"Being a CEO is like answering a call to bring the organization to a better
place than where you found it."
~ Ed Ludwig (CEO of Becton, Dickinson)


More information about the gnucash-user mailing list