[GNC] Advice needed, how to handle a medical reimbursement account...

[Christopher Lam]

Hi Randix; you can try using the Business features and see if they work for
you, or use an intermediary 'asset'-type account (or more accurately,
account receivable).

1-Jan:
Income:MRA -$1000
Asset:MRA +$1000

5-Jan: visit Doctor123
Asset:Checking -$100
Expense:Medical +$100

10-Jan: submit claim (invoice the customer 'MRA')
Asset:MRA -$100
Asset:A/Receivable +$100

20-Jan: receive reimbursement (process payment)
Asset:A/Receivable -$100
Asset:Checking +$100

HTH

On 14 May 2018 at 10:07, randix <butterandsalt at gmail.com> wrote:

> Thanks for your suggestion.
>
> Unless I'm misunderstanding, what you propose would work fine if one was
> not
> interested in keeping track of the current balance(s) in the various MRA
> accounts.  I need to keep track of the balances, as I need to know which
> MRA
> account still has credit balances to which I can submit claims.
>
> So, for example, using your suggestion...
>
> 1. On January 1, 2018, I'm notified that I have received $1,000 which has
> been deposited in my XYZ MRA Account (keep in mind, these are not funds
> that
> have been actually sent to me, rather they have been deposited in an
> account
> set up in my name). I have an ASSET account in the name of XYZ MRA, so on
> January 1, 2018, when notified of the deposit, I make a "deposit" in that
> asset account in the amount of $1,000, and offset it with $1,000 in an
> income account titled MRA income (so I can keep track of MRA funds that
> have
> been credited to me in all MRA accounts).
>
> 2. On January 5, 2018, I pay out of my checking account the sum of $100.00
> to Doctor 123, the offsetting entry is expense:health:medical
>
> 3. Using your suggestion, on January 10, 2018 when I file a claim for
> reimbursement of the $100.00, I debit the ASSET XYZ MRA account, so it now
> has a balance of $900.00, and credit the $100.00 in my
> expense:health:medical account.  All good.
>
> 4. *The issue is what happens when I actually receive the reimbursement in
> my checking account. *
>
> 4.1 You said, "Receive reimbursement. Deposit into checking account. Debit
> checking, credit MRA". Not exactly clear what you meant, except that I get
> you want a credit to end up in the MRA account.  But doing so, will bring
> the balance of the MRA account back up to $1,000 when we know there's only
> $900 in there...if that account had a zero balance to start with, your
> debit/credit approach would work fine. But I need to have it track the
> balances.
>
> Suggestion?  My head is starting to spin :)
>
>
>
>
>
>
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