Expense vs Liability
Dennis Powless
claven123 at gmail.com
Sat Nov 13 01:44:02 EST 2010
I used to track medical bills in an account in quicken. I would enter
an amount I owed and then enter transactions for the amount I spent
per month until it was paid off. I would do this for the various
medical bills we had over the year.
I need to keep a total amount owed and amount paid.
When I imported to GC, this account was placed in an expense account.
However, this is only one sided (showing what I spent on that
expense). Should I be tracking this in a liability account?
I guess I'm just confused. When someone in the family goes to the
doctor we get a charge/bill for an amount, say 100.00 USD. I need to
enter this into GC some place. What account would it go under?
Any ideas?
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