Handling Purchase Advances

[Manfred Usselmann]

Hi,

Am 20.06.2013 12:16, schrieb Sanjay Chakravarty:
> 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.

Use a liability account. At that point in time you owe your friend that 
amount.


> 2. I already have $100 in my wallet, so buy the item for $89 from my 
> wallet.

Reduces the liability by $89.


> 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.

The liability is now 0.


Regards,
Manfred


> 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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