[GNC] Tracking Reimbursable Medical Expenses
Stephen M. Butler
kg7je at arrl.net
Sat Jan 5 23:11:15 EST 2019
On 1/5/19 7:51 PM, David Cousens wrote:
> Aaron
>
> Asset:HSA is your savings fund. The payment of money into that account is
> exactly as you priginally proposed.
>
> The 4 way split
>> Asset:Medical Reimbursable $5
>> Liability:Credit Card $5
>> Expenses:Medical $5
>> Asset:HSA $5
> records 2 simultaneous events. It makes a bit more sense when you consider
> the two events separately
>
> Firstly your payment of the medical expense with your credit card
> :
> Expenses:Medical $5
> Liability:Credit Card $5
>
> and the creation of an obligation to reimburse the expenditure to your bank
> account from your HSA account:
>
> Asset:Medical Reimbursable $5 this account
> tracks what you have to reimburse to your bank account
> Asset:HSA $5
>
> And when you actually reimbuse money
>
>> Asset:Bank $5
>> Asset:MedicalReimbursable $5
> If the balance of Asset:MedicalReimbursable is not 0 then you have expenses
> you have incurred but not reimbursed from the HSA. This is exactly the same
> as the way Asset:Account Receivable works when you extend credit to a
> customer in a business environment with the business features. In this case
> the HSA is effectively the customer, who owes you money.
>
>
> David
Thanks David. I was pulling out a blank sheet and scribbling T accounts
all over it. I managed to follow by breaking each pair of lines into
numbered transactions to the various T accounts.
I was trying to pair the Medical Expense up with the Liability account
and was stymied that that point. This approach broke the logjam.
Hopefully the OP follows also.
--Steve
--
Stephen M Butler, PMP, PSM
Stephen.M.Butler51 at gmail.com
kg7je at arrl.net
253-350-0166
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