[GNC] How to create Expense Report to Business from Personal Acct?

[Derek Atkins]

Alternatively, in the business side, instead of recording the purchase
directly like that you could use the Expense Voucher interface.  This
treats you (the "employee") like a "vendor" in AP.  It's a little more
work than just entering in the transactions directly but it also provides
you with the business txn tracking features to remind you to pay the
reimbursement.

Enjoy!

-derek

On Mon, October 21, 2019 7:51 am, Fran_3 via gnucash-user wrote:
>  Thank you David. Perfect answer.
> Fran3
>
>     On Sunday, October 20, 2019, 11:45:00 PM EDT, David Cousens
> <davidcousens at bigpond.com> wrote:
>
>  In the personal accounts if you have expended money on items for the
> business
> it creates a Liability for the business  and in your personal accounts by
> expending money from your bank you are creating an asset.  You would
> record
> a purchase as follows
>
> Personal
>
>
> Asset:PersonalBankAccount      Cr  xxx
> Asset:Reimbursable                Dr  xxx
>
> in the Business account, the purchase would appear as
>
> Liability:Reimbursements        Cr xxx
> Expenses:...                          Dr xxx
>
> When you transfer money from your business bank account to your personal
> bank account to
> reimburse yourself  in the Buisness accounts it appears as
>
> Asset: BusinessBankAccount            Cr xxx
> Liability:Reimbursements                Dr xxx 
>
>
> and in your personal accounts
>
> Asset:PersonalBankAccount          Db  xxx
> Asset:Reimbursable                    Cr  xxx
>
> You would put notes in the description and/or memo  section in each  to
> make
> it clear that it was a purchase of an item for the business from your
> personal account in the first case and reimbursement of that in the second
> to keep the tax man happy. (The reverse if you expend business funds on a
> personal item.)
>
> David Cousens 
>
>
>
>
>
>
> -----
> David Cousens
> --
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-- 
       Derek Atkins                 617-623-3745
       derek at ihtfp.com             www.ihtfp.com
       Computer and Internet Security Consultant