gnucash-user Digest, Vol 122, Issue 20

[Noah Ulrich]

could you unsuscribe me?


On Thu, May 16, 2013 at 2:57 PM, Peter Kiessling <pjkiess at gmail.com> wrote:

>
> On May 16, 2013, at 8:51 AM, gnucash-user-request at gnucash.org wrote:
>
> Message: 7
> Date: Thu, 16 May 2013 10:35:46 -0400
> From: Derek Atkins <warlord at MIT.EDU>
> To: "Martijn\, Brandy & Grace" <Usadutchies at bellsouth.net>
> Cc: gnucash-user at gnucash.org
> Subject: Re: Type of account for advanced money?
> Message-ID: <sjm8v3fj8l9.fsf at mocana.ihtfp.org>
> Content-Type: text/plain; charset=us-ascii
>
> Hi,
>
> "Martijn, Brandy & Grace" <Usadutchies at bellsouth.net> writes:
>
> > Hello,
> >
> > I advanced some money for a company I worked for (basicly I put some
> > business stuff on my credit card), what type of account should I make
> > for that under what catagory?
>
> IANAA but I'd record it as an Asset (money owed to you).
>
> > And how would I process the reimbursement? The reimbursement is a
> > check and will be deposited into my checking account, from there I
> > have to transfer it back to my credit card.
>
> As a transfer from your Asset back to your Bank account.
>
> > Thanks so much and have a blessed day!
> >
> > Martijn
>
> > Please remember to CC this list on all your replies.
> > You can do this by using Reply-To-List or Reply-All.
>
> -derek
>
> --
>       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
>       Member, MIT Student Information Processing Board  (SIPB)
>       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
>       warlord at MIT.EDU                        PGP key available
>
> I have a slightly different take on this which works for me.
> I have an Expense account(s) ( children as appropriate) for reimbursed or
> possible reimbursed expenses. The credit card then gets the initial entry
> (liability- credit) and the expense account is the other side - debit. I
> pay the whole credit card bill which of course includes those possible
> reimbursed expenses.(checking=credit; credit card= debit) When I get
> reimbursed the check goes to the checking account (asset-debit) and the
> other side is the reimbursed expense account(credit) which hopefully
> returns to zero.  This also works for things like Medical expenses I pay
> and later get reimbursed.
>
> -Pete
>
>
>
>
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-- 
The Lord is MY SHEPHERD
JEHOVAH es MI Pastor

The  Ulrichs