interesting accounting problem - how to handle

[Derek Atkins]

Yawar Amin <yawar.amin at gmail.com> writes:

> Hi,
>
> On 2010-04-28, at 18:51, Jay Ridgley wrote:
>> Folks,
>> 
>> My bank made an error and posted a credit card payment to my mortgage principle
>> and after I discovered it and drew it to their attention, have decided to leave the extra principle applied AND credit my credit card.
>> 
>> Now the question I have is, what is the other leg of the transaction, I know to credit my mortgage 
>
> You mean debit your liability, right?
>
>> liability but the offset comes from which account?
>
> Credit an equity account (e.g. Equity:OutsideContributions), maybe?

An accountant or tax attorney would have to answer you officially, but I
would think this would be considered Income:Gifts

>  Yawar

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-derek
-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
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