Handling Purchase Advances

[Subramanian Venkateswaran]

You need to enter the transaction exactly as they have occured.

I assume you have the following accounts : Cash in Wallet, Income : Others,
Asset: Savings Account : Bank A, Expense Account : Gadget, Expense Account
: Gifts.

a) Transfer of 100$ from Income:Others to Savings Account : Bank A
b) Transfer of 89$ from Cash in Wallet to Expense Account : Gadget
c) Transfer of 11$ from Cash in Wallet to Expense Account : Gifts

You may choose to enter a), b) and c) in the description of all the
transactions.

Regards,
Subramanian V.

www.lifebytes.in


On Thu, Jun 20, 2013 at 3:46 PM, Sanjay Chakravarty
<sanjaychak02 at gmail.com>wrote:

> Dear All,
>
>
>
> Here is a scenario I want to record in gnucash but I don't know how.
>
> 1. My friend gives me $100 to buy an item. He deposits the amount in my
> bank.
> 2. I already have $100 in my wallet, so buy the item for $89 from my
> wallet.
> So balance $11 is to be paid back to my friend.
> 3. When we meet, I return $11 in cash to him from my wallet.
>
> Usually I use Assets::Reimbursements when purchases are made in advance for
> someone (like official), and I get reimbursed exact amount. Here, an
> advance
> is being made, and that too into the bank. How do I setup the above 3
> transactions in gnucash?
>
>
>
> Regards
> Sanjay
>
>
>
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