[GNC] How to balance correctly a particular transaction which involves debt?

Christopher Lam christopher.lck at gmail.com
Mon Sep 21 10:35:39 EDT 2020


Well you'd use the description field to describe the narrative of the
transaction. "Bought $50 of books from Shop for friend". Later on when
friend settles debt into your bank you'd write "recover $50 from friend".

This approach would mean the widget shop shouldn't appear in your expense
report. IMHO.

On Mon, 21 Sep 2020, 10:25 pm Daniel Fishman, <quantera at gmail.com> wrote:

> On 9/21/20 5:15 PM, Christopher Lam wrote:
> > I wouldn't add an entry into Expenses:shop -- you didn't exactly spend
> your
> > money into this shop.
> >
> > Spending/lending money:
> > Liability:credit card -$50
> > Asset:Friend owes me +$50
> >
> > Recovering funds:
> > Asset:Friend owes me -$50
> > Asset:Cash or bank +$50
>
> It seems to me that using the
>
> Liability:credit card -$50
> Asset:Friend owes me +$50
>
> loses a bit of information, since a credit card statement will list the
> shop
> as the receiver of the money. It seems to me that by omitting  the shop
> from
> being mentioned in any of the entries will make it more difficult to
> correlate
> the credit card statement with an information in gnucash.
>
>


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