[GNC] Where to charge? Ins pays us, we pay vendor.

Fran_3 mailbox0600 at yahoo.com
Tue Feb 11 11:47:02 EST 2020


When an insurance claim occurs the insurance pays us and we pay the vendor.
How to we charge the deposit from the insurance company and the payment to the vendor?
I considered setting up an Expense Account named Insurance Transactions or Insured Events or whatever...
Then allocating the insurance payment to that "Expense" account
and then allocating the vendor payment to the same "Expense" account
Or would you suggest just using the Insurance Payments Account where you record payments for the policy?
How would you guys handle such an instance?
Thanks for any help.



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