[GNC] Zelle

[Adrien Monteleone]

Khristine,

If you are sharing expenses, say you fronted the cash and they are paying you back their portion, then you would not record that as income, and you also wouldn’t have recorded the original full amount as your expenditure.

You’re merely facilitating payment for someone else.

I have a handful of asset accounts set up for this purpose when my siblings and I split holiday and birthday gifts for our parents. I only expense my portion and the rest goes to these asset accounts (as money they owe me), which is then paid back by my siblings later.

If that is similar to what you are doing and need help with those transactions, let us know.

If they are just sending you money to be nice, that is a gift. Track that in an Income:Gifts Received account. Taxability will depend on laws in your jurisdiction, but many offer a threshold before you have to report them, so it is a good idea to keep them separate.

Regards,
Adrien

> On Apr 17, 2019, at 3:05 PM, Derek Atkins <derek at ihtfp.com> wrote:
> 
> Oh, and also, please remember to CC the list on all replies.
> (I didn't notice until after I hit send).
> 
> -derek
> 
> On Wed, April 17, 2019 4:04 pm, Derek Atkins wrote:
>> It depends why they send it to you.
>> I use Income:Gifts
>> Unless it's being used for something specific.
>> 
>> Treat it the same way you would treat them sending you a check or handing
>> you cash.  How would you record that?  Well, it all depends on WHY they
>> are sending you a check or handing you the cash :)
>> 
>> -derek
>> 
>> On Wed, April 17, 2019 3:59 pm, Khristine Ann Ramella wrote:
>>> Yes, but if a friend sends you money do you label it as Income? I just
>>> used the plain Income category and not what I use for paycheck income so
>>> they would be separate?
>>> 
>>> -----Original Message-----
>>> From: Derek Atkins <derek at ihtfp.com>
>>> Sent: Wednesday, April 17, 2019 3:56 PM
>>> To: Khristine Ann Ramella <kisspk at hotmail.com>
>>> Cc: gnucash-user at gnucash.org
>>> Subject: Re: [GNC] Zelle
>>> 
>>> I would just treat it the same way I would treat an ATM or Check -- as a
>>> direct transfer between Bank and Income or Expense.
>>> 
>>> -derek
>>> 
>>> On Wed, April 17, 2019 3:51 pm, Khristine Ann Ramella wrote:
>>>> How do you categorize Zelle coming into your account from friends and
>>>> so on?
>>>> 
>>>> TY
>>>> 
>>>> I did try to search this topic and was unsuccessful.
>>>> 
>>>> Sent from Mail<https://go.microsoft.com/fwlink/?LinkId=550986> for
>>>> Windows
>>>> 10
>>>> 
>>>> _______________________________________________