[GNC] Accounts which are both Income and Expense accounts

[Mark at Lorimark]

I think you need four accounts?

Asset:Me
Asset:Jim
Expense:Me
Expense:Jim

Transactions;

Asset:Me  -> (dec) $10 -> Expense:Jim (inc) $10 (bal) $10
Asset:Me  -> (dec) $15 -> Expense:Jim (inc) $10 (bal) $25
Asset:Jim -> (dec) $5  -> Expense:Me  (inc) $5  (bal) $5

Jim's expenses == $25
Me's expenses  == $5

Jim owes me $20 ?

~mark petryk
~w:http://www.lorimarksolutions.com
~h:KG5OBY
~q:might as well... it's not getting any cheaper

On 7/24/23 10:53, Chris Green wrote:
> Is there a 'right' way to handle an account which gets payments in two
> directions?
> 
> E.g. I have good relations with a friend and we often buy things for
> each other and settle up at the end of the month.  Sometimes I owe the
> friend some money, other times the friend owes me some money but it's
> very definitely one account and one wants to see all the payments in
> one place.
> 
> I guess one can just say it's an 'Expense' account and make payments
> in either direction as required, is this the only way or is there a
> special name for such an account?
>