insurance dividends

[David]

My solution? All my insurance goes to one Expenses:Insurance, and when the rebate comes in, I deposit it into that account. If it really matters, you can make the split as you suggest. Just keep in mind the rebate isn't income...

David 



_____________________________________________
From: David Zelinsky <dzpost at dedekind.net>
Sent: Sat May 12 17:56:18 PDT 2012
To: gnucash-user at gnucash.org
Subject: insurance dividends


I'm having trouble figuring out where to record dividend checks from a
mutual insurance policy. I'm hoping someone has a clever solution.

Here's the situation. I currently have separate accounts for my
homeowners and car insurance: Expenses:House:Insurance and
Expenses:Car:Insurance. I recently switched both policies to a mutual
insurance company, which gives me an annual rebate check ("dividend").
This is supposedly a return of some fraction of the premium, so I would
like to record it as a rebate in the two expense accounts. However,
they don't break it down according to the two policies, so I'm not sure
where to put it.

I could divide up between the two accounts, according to the ratio of
the premiums. But that seems awfully fussy, plus I don't know if the
divident rate is actually the same for both types of policy (in which
case, in principle my method could end up with one of them having a
rebate that's larger than the premium!)

Ideally I would like to have both accounts be under one master account
for insurance company, so the dividend could go into the parent
account. But I still want them to be under Expenses:House and
Expenses:Car, so they would each need two parents!

At the moment I can't think of anything better to do than just put the
dividend into some Income account and leave it at that.

Any better suggestions?

--David

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