Collecting payments from others then remitting to one vendor

[Maf. King]

On Saturday, 13 January 2018 00:15:07 GMT gn00b wrote:
> So my roommates and I split utilities cost and every month they remit to me
> the required amount and I then remit all of those smaller payments to our
> utilities company. What's the best way to set up the accounts/transactions
> so I only have an expense of what I owe.
> 
> Example:
> 
> Utilities bill is $30
> 
> Roommate A: $10
> Roommate B: $10
> Me: $10
> 
> I collect $10 from A and B and remit $30 to the utilities company.
> 
>

Hi, 

I'd imagine that setting up your roommates as liability accounts might work.  
Consider that you don't "own" the money they've contributed - you're just 
looking after it in your current account until it either goes to pay the bill 
or, if the bill were ever to be cancelled, you'd owe the money back to your 
buddies.

then, when you pay the bill, you end up with a multi split transaction, 
reducing your bank account (the total bill), the roommate liability accounts 
(by their contributions), but increasing expense:utility by your share.

HTH,
Maf.


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