What's the best way to record this?

Ryan Flegel rflegel at gmail.com
Mon Jan 3 20:37:30 EST 2011

On 3 January 2011 19:08, Lincoln A Baxter <lab at lincolnbaxter.com> wrote:

> If the Roommate actually purchased the gift (i.e. you borrow the money
> from the roommate), it could (should) have looked like this:

Technically, I didn't borrow it since they already owed me money, so
that's why I moved it from Assets:Owed To Me:Roommate to Assets:Owed
To Me:Dad. Is that the correct way to do it?

A have a related question to these types of accounts. Oftentimes,
these types of accounts ("loans" to/from friends) fluctuate one way to
another so they can be assets or liabilities at different points in
time. What's the best way to deal with this? Keep two accounts and
when either one hits zero switch to the other?

eg, if I owe a friend $100 and pay them $150, subtract the first $100
from the Liability and put $50 into an Asset account?


More information about the gnucash-user mailing list