Under what accounting head should this account be created?

Joshua Chambers chambers.joshua at gmail.com
Mon Jul 13 20:53:06 EDT 2015


I do this a lot, and have accounts for all my friends.  I organize them as
Assets, and do it this way:

-Assets
     --Holdings
          ---Cash
          ---Checking
     --Exchanges
          ---Bill
          ---Jane

So if someone picks me something up at the store and pays for it, I enter
it in the Expense account for what they bought, against the Exchanges
account for that person.  That way money that is owed to me shows up as
positive, and money that I owe out shows up in negative (red) and the
accounts often sway between the two.  Of course if I pick something up for
someone else or lend someone money, the transaction is between my Holding
account (Cash or Checking or Paypal or whatever) into that person's
exchanges account.  I like this because I can see whether I'm positive or
negative overall with people (the Exchanges which is a placeholder
account), and I can easily see how much I'm owed or owing with each
person.  :)

Yours,
Joshua


On Mon, Jul 13, 2015 at 6:05 AM, nosherwan <nosherwanh at gmail.com> wrote:

> Hello all,
>
> I want to know under which head should I create an account of a friend to
> whom I sometimes owe money and other times he owes me.
>
> Thanks,
>
>
>
> --
> View this message in context:
> http://gnucash.1415818.n4.nabble.com/Under-what-accounting-head-should-this-account-be-created-tp4679423.html
> Sent from the GnuCash - User mailing list archive at Nabble.com.
> _______________________________________________
> gnucash-user mailing list
> gnucash-user at gnucash.org
> https://lists.gnucash.org/mailman/listinfo/gnucash-user
> -----
> Please remember to CC this list on all your replies.
> You can do this by using Reply-To-List or Reply-All.
>


More information about the gnucash-user mailing list