No interest loan (as donor)

[Derek Atkins]

Mike Leone <turgon at mike-leone.com> writes:

> 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.

I wouldn't use A/R here.  I'd just use "Assets:Loans to Friends:Friend1"
as the account.

> 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