No interest loan (as donor)
Mike Leone
turgon at mike-leone.com
Sat Jan 30 01:09:39 EST 2010
T. Howell-Cintron had this to say:
> I've granted two friends three separate loans, all w/o interest, and I'm
> not sure how to best represent this in GC. The money came from
> Assets:Checking but do I put it in a special Expenses:LoanToSoAndSo? Or
> somewhere more suitable? That's the best I can come up with.. am I
> doing the right thing?
If they will pay you back, then you need to record them as an
Asset:Account Receivable:Friend1, etc. Then, when they pay you back, you
credit this account, and credit Cash or Checking, whichever.
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