Wife´s credit card (in the same statement)

[Derek Atkins]

Kevin Bullock <kbullock at ringworld.org> writes:

> I would create an Accounts Payable account for her part of the
> expenses. When you enter an expense you want to split, you can enter
> her half in that account, and mark it received when she gives you the
> money for the bill each month.

Note that you should not use type "A/Payable", but instead just use a
standard Liability account for this.  The "A/Payable" and "A/Receivable"
account types are designed to be used only by the biz features; they are
NOT designed for human consumption or data entry.

> More simply, you could just create an Income account for her
> payments. This loses the itemization of what you split, but would be
> simpler to enter. Depends how finely-grained you want to track it.

I wouldn't consider it Income per se, because it isn't.  Treat her as an
Asset (or Liability) and then you can split your parts of the payments
out.  Technically you do not need to account for her portion of the
bills, but you could always do something like:

CC -> Wife  (her amount of bill)
Wife -> Checking (her payment to you)
Checking -> CC (payment of CC)

For places where she is paying for you it would be something like
Wife -> Expense

> pacem in terris / mir / shanti / salaam / heiwa
> Kevin R. Bullock

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-derek

-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
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