Keeping track of small debt between friends, both ways

[Pedro Emílio Machado de Brito]

On Tue, Aug 4, 2015 at 10:47 AM, Buddha Buck <blaisepascal at gmail.com> wrote:
> It's either an Asset or a Liability. Pick one. If you are concerned about it
> sometimes having a negative balance, pick based on what you think the
> typical balance would be: If you think Bob will owe you more often than you
> will owe Bob, then make it an asset. If you think it's the other way around,
> then make it a Liability.

I'd put it under Assets then, but it doesn't feel right.

Do equity accounts have other uses besides opening balances and
closing the books (which I never do)?

> My solution to similar problems is to not worry about it. If I go out to
> dinner with Bob and pick up the check, it's an expense. Informally, I know
> he'll pick up the check next time to "settle the debt". I don't worry that I
> paid $15 for his dinner, and he paid $12 for mine (so he'd owe me $3).

That was me too, before I started using Gnucash. Now I'm sort of crazy
paranoid about every cent of my money :(

-- 
Pedro Emílio Machado de Brito

Ciência da Computação 2012 - Unicamp
Coordenador Financeiro - Centro Acadêmico da Computação (CACo)