Double entry practiceH

Daniel Pool daniel.pool at googlemail.com
Sun May 16 12:59:47 EDT 2010


Hi,

I've just started using GnuCash to manage both my wife's and my personal
accounts. It's been a few years since I briefly studied double entry book
keeping in uni, so I wanted to check how to represent something in a double
entry system (sorry if this isn't the right forum, or if it's been posted
before ... my searching the internet at large hasn't thrown up an answer).

Basically I want to represent the following scenario:

One of us wants to buy something but don't have enough personal funds, we
therefore buy it on the shared credit card and then gradually pay back the
amount from our respective incomes.

I understand how to represent a normal transaction on a credit card as a
expense -> liability and then an asset -> liability as it's paid off. I
guess what I almost want is the ability to have the expense appear under two
liabilities, one being counted properly in the equity calculation and the
other being ignored, but allowing us to keep track of this "loan".

Any help would be much appreciated.

~Dan
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