[GNC] Paying an exmpense that will be pertially re-imbursed.

jjlwork jasolandry at gmail.com
Fri Sep 21 10:33:46 EDT 2018


When I get my power bill I pay the whole thing from my checking account. I
send my girlfriend how much I paid and she transfers me her share and it
gets deposited back in my checking account. So the first transaction is for
example $100 from checking to Electricity expense. How should I record the
e-transfer from my GF to my checking account? My thoughts right now are:

1. $100 from Checking to Electric expense
2. $50 from Electric Expense to Asset:GF Money Owed
3. When she pays me her share transfer from Asset:Money owed to Asset:Bank
Account.

This way I track that I paid the full expense initially, but I got back half
and ultimately I paid half in the end.

Does that make sense or is that the wrong way to go about it?

Also can I apply the same logic to a joint account we use:

1. Create Asset: GF Joint Account Contributions
2. When she puts money in Joint Account I credit the joint account and debit
the GF Joint Account Contributions
3. The joint account will have the correct balance, but with respect to my
total assets the GF Joint Account Contributions will be debit for that
amount so will offset my total assets.
4. When a expense comes out of the joint account record the expense being
paid from that account as normal.
5. Credit the GF Joint Account Contributions with her share of the expense
and debit the expense. So for my books it shows the amount I actually paid
to the expense.

Thanks!




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