[GNC] Forward payments

[Tony Vanson]

My thanks to all respondents. It is finally making sense to my befuddled
brain.
However I have one more spanner in the works. I had already transferred
funds from my Current Assets:Bank account to Expenses:Staff.
My Bank account has been reconciled.
What, if any, process is available to transfer the forward payment funds
from Expenses:Staff to the newly created Current Assets:Forward Payment
Credit account without messing things up, or would I need to delete the
original transfer and re-enter it to reflect the new process?
Thanks again for all your patience.
Cheers


On Fri, Jun 29, 2018 at 12:13 AM, Stephen M. Butler <kg7je at arrl.net> wrote:

> On 06/28/2018 12:25 AM, Tony Vanson wrote:
> > Thank you for your quick response. My Staff account is set up as an
> Expense
> > not as an Asset. In this particular case would I need to set up a new
> > account Current Assets:Staff - as a child account under Current Assets?
> > Cheers
>
> I would set it up as an asset.  Even if you physically handed them the
> cash and they physically put it into their wallet for future
> disbursement as needed, it is still your asset.  If anything is left
> over when you return it would come back to you for put back into the bank.
>
> I presume you will get periodic statements about how that asset is being
> disbursed so you can make the appropriate entries to transfer funds to
> the appropriate expense accounts (just like you do now, except the asset
> side is not the bank but the "staff accountant").
>
> That way you could notice if the funds were running short and do online
> banking to send more funds to that person.
> > On Thu, Jun 28, 2018 at 2:08 PM, Maf. King <maf at chilwell.net> wrote:
> >
> >> On Thursday, 28 June 2018 07:53:02 BST Tony Vanson wrote:
> >>> Hi all,
> >>> Hopefully someone can advise me how to treat the following problem
> which
> >>> stumps me.
> >>> I am using GNUcash 2.6.18 on Windows 10.
> >>> I shall be away for several months and have transferred credit from my
> >>> Savings account to my Staff account with a lump sum amount for her to
> pay
> >>> her Salary, Electricity, Pool chemicals, Internet access etc, on the
> due
> >>> date. All these are set up as expense accounts.
> >>> All accounts, apart from her Salary and Internet access, are variable
> in
> >>> amount and payment date.
> >>> I assume that I have to split the lump sum to the various accounts as
> >> they
> >>> are paid or is there some other method?
> >>> I also need to take into account that the payment I've made to the
> Staff
> >>> account may be too small or too large.
> >>> Any enlightenment to a personally perplexing problem would be greatly
> >>> appreciated.
> >>> P.S. I only use GNUcash for my personal information and does not have
> any
> >>> taxation or other legal requirement.
> >>> Cheers
> >> Hi Tony.
> >>
> >> Do you have accounts in GC that represent your Savings account & Staff
> >> accounts?
> >>
> >> To me it seems that you should let GC reflect reality - you've got a
> >> transaction from Assets:Savings to Assets:StaffAccount.  as the payments
> >> are
> >> made, you have transactions between Assets:StaffAccount & expense
> accounts
> >> as
> >> appropriate. (presumably, you could be emailed details of payments made
> to
> >> keep your GC up to date?)
> >>
> >> If, on your return, you have balance left in Assets:StaffAccount, just
> >> record
> >> a transaction putting it back into savings.
> >>
> >> HTH,
> >> Maf.
> >>
> >>
> >>
> >>
> >>
> >
>
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-- 
*Tony Vanson*

*The older I get,*
*the better I was*