maf at chilwell.net
Thu Nov 22 04:12:12 EST 2012
Answers (opinions - IANAA) in line below...
On Thu 22 November 12 09:00:06 David Ryder wrote:
> To explain my situation:
> I am an Executor of a Will.
> I am owed money by the Estate for expenses I paid (bills etc before my
> father's death).
Condolances for your recent loss.
I would create an account in the Estate's books, something like
Liabilities:DavidExpensesToRepay. You are acting to all intents and purposes
like a credit card for the estate. (if that helps you visualise the money
> I am keeping the books for the Executors.
> They are creditors for their expenses paid (funeral as an example).
> So, I'm lost where to put the creditors accounts - does each person have
> their own 'account'?
> Under what Placeholders do I place the accounts?
Yes, I would create a series of accounts, something like
Liabilities:Executor1, or possibly Liabilities:Executors:Executor1
one per executor.
> Amounts are owing to the Estate. I assume these are Equity accounts?
I'd say they are assets of the estate. Suppose your father had made a loan to
a grandson to help with education fees. From the estate's point of view, that
is money that is expected to be repaid in due course, and so is an asset.
Again, depending on the complexity of the Estate's affairs, either one or
several accounts under Assets is the way I'd record things.
> Many thanks,
More information about the gnucash-user