Allowances (reimburseable expenses)

[David T.]

That's where I was proposing you "find" expenses to match against. ;)
David
      From: Jill Terry <jill at babrees.co.uk>
 To: gnucash-user at gnucash.org 
 Sent: Tuesday, March 31, 2015 12:05 AM
 Subject: Re: Allowances (reimburseable expenses)
   
Thanks David, but my question was not how I show it in the club's 
accounts, but how I show it in my own personal accounts when there is 
not outgoing amount.

On 30/03/2015 17:18, David T. wrote:
> Jill,
>
> I am not an accountant, and I am glad I am not in your shoes.
>
> The club is avoiding the honorarium (is that because it would make you an employee?); it sounds as if that leaves you with “reimbursements” for costs you haven’t got.
>
> If I were in this position (and again, I am not an accountant, and you didn’t hear it from me if the tax hunters come knocking), I’d “find” some expenses to match my reimbursements against. Either that, or I’d return the excess reimbursement and it would all balance out.
>
> David
>
> On Mar 30, 2015, at 6:56 AM, Mike or Penny Novack <stepbystepfarm at mtdata.com> wrote:
>
>> On 3/30/2015 2:12 AM, Jill Terry wrote:
>>> Thank you Michael.
>>>
>>> Yes, I KNOW it is not a gnucash question, but this group has been helpful to others with accounting questions in the past and that is why I posted here in the hope that somebody else does a similar thing and could share how they do it.  I am glad you were polite, there really is no need to be rude :)
>>>
>>> Yes, as I am also Treasurer of the said club, I totally agree with you and I too demand an expense sheet and receipts before paying expenses. However, as you asked ;)  here is my situation:
>>>
>>> I am given an annual allowance to cover incidental costs throughout the year.  It used to be an honorarium, however, after checking with tax office, club members voted to change it to expenses (I voted against that!).  No paperwork is generated and it is not for specific expenses.
>>>
>>> Unless I hear of a better way, for now I have simply made an expense account called "reimbursed expenses".
>>>
>>> Thanks for your  help
>>>
>>> Cheers
>>> Jill
>> Now I am really confused. You are cutting a check to reimburse yourself for (personal expenditures on behalf of the club, mileage on behalf of the club) and you don't know how much of that reimbursement was for what? Isn't that a matter of you keeping some record? (and then sending this memo to yourself).
>>
>> Try imagining yourself wearing two hats, Jill Person and Jill Treasurer. How would this be handled were you separate people? What information would Jill Person be required to keep and then send to Jill Treasurer to justify the reimbursement? Assume that Jill Person kept a copy. Wouldn't that information allow her to enter the reimbursement transaction into her personal books just as it allowed Jill Treasurer to properly allocate the expenses in the club books?
>>
>> Michael
>>
>> PS: When you spend personal money on behalf of the club that is a transfer between asset accounts. When you receive a reimbursement that is again a transfer between asset accounts. Your initial question was what to do about some portion of the reimbursement that was NOT for cash you had laid out (the mileage reimbursement, a reduction in a personal expense).
>> _______________________________________________
>> 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.
>
> _______________________________________________
> 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.
>


---
This email has been checked for viruses by Avast antivirus software.
http://www.avast.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.