loans from/to spouse or somebody else

[David Stibbe]

> Yup, this looks reasonable. On the other side (I am 'encouraging' my
> partner to use gnucash as well), I suppose a corresponding account
> would be liability/money owed to others/spouse, correct? And money,
> when borrowed from others, would go from the this account to either
> cash or a bank account or any other Asset.

A corresponding account would indeed be liability/money owed to
others/spouse. first money would transfer from that account to an
asset account, (e.g. checking account)   thus creating the debt. When
repaying the debt, transfer money from an asset account to that
liability account.

> Aha. How does your spouse manage this account? If gnucash is to be
> used, how would the spouse deal with putting money in the joint
> account? Have it as asset in his/her account as well, I supposed(?)

Unfortunately my g/f uses Excel nor is she as anal about this as I am
;) , so I cannot say this from experience, however, if she used
gnu-cash, I assume she has the joint account as an asset as well. (In
the end the shared money is an asset of you both ).

> Thanks. It was helpful.

Glad to hear it was helpful.