Handling Purchase Advances

[Sanjay Chakravarty]

Thanks, Subramanian. Only we are unable to setoff 89$ and 11$ against the
100$ if we simply record the transactions. If we do as you mentioned, these
will be 3 unrelated transactions that do not reflect the fact that
ultimately they have no impact on my finances. I just did a service. I don't
want to figure these transactions against my income or expenses.

 

Regards

Sanjay

 

From: Subramanian Venkateswaran [mailto:subramanian.venkateswaran at gmail.com]

Sent: 20 June 2013 16:22
To: Sanjay Chakravarty
Cc: gnucash-user at gnucash.org
Subject: Re: Handling Purchase Advances

 

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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