'Loans': Asset or Expense?

[Derek Atkins]

"Mike C." <subscribe307 at verizon.net> writes:

> If I was doing this I would post the transactions to Accounts
> Receivable with sub-accounts if that makes it easier to identify the
> person that owes you.  Accounts Receivable is an asset account.
> Mike

When using A/R there's no need to use Sub-Accounts; the business
features keep track of all that for you in MetaData.  Run the
Receivables Aging report and you'll see how much each one owes you.

If you're NOT using the business features then you should NOT use
A/R.  The A/R account is not for manual data entry.

> Please remember to CC this list on all your replies.
> You can do this by using Reply-To-List or Reply-All.

-derek

-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
       warlord at MIT.EDU                        PGP key available