loans (revisited)
T. Howell-Cintron
lists at kathera.com
Tue Sep 15 21:50:02 EDT 2009
As I previously mentioned I was given a loan, interest free, for $1000.
That money was for medical bills and computer expenses. The kind folks
on this list guided me to do the following: Create Liabilities:Loan,
enter a transaction from Liabilities:Loan showing an increase of $1000
to Assets:Checking, enter transactions from Assets:Checking to the
appropriate Expenses:* accounts, and finally to enter payments against
the loan from Assets:Checking to Liabilities:Loan. All looks right and
I'm very happy about that.
Now I've decided to track another outstanding debt. I set up a
Liabilities:* for it and entered a transaction showing an increase of
the amount I owe as a transfer to Assets:Checking, and entered a
transaction from Assets:Checking to Expenses:* for the full amount. Now
when I make payments they'll go from Assets:Checking to the appropriate
Liabilities:* account.
I feel like I'm finally getting it.. but if I'm not please feel free to
set me straight. :) Much thanks to all that helped..
-- Tom
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