Handling Purchase Advances

[Subramanian Venkateswaran]

In that case all transaction should have been cash or cheque on the same
account and not a mix of them, unless someone else has an ingenious way of
going around this.

Regards,
Subramanian V.

www.lifebytes.in


On Thu, Jun 20, 2013 at 4:29 PM, Sanjay Chakravarty
<sanjaychak02 at gmail.com>wrote:

> 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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>