When I get my power bill I pay the whole thing from my checking account. I send my girlfriend how much I paid and she transfers me her share and it gets deposited back in my checking account. So the first transaction is for example $100 from checking to Electricity expense. How should I record the e-transfer from my GF to my checking account? My thoughts right now are:
1. $100 from Checking to Electric expense 2. $50 from Electric Expense to Asset:GF Money Owed 3. When she pays me her share transfer from Asset:Money owed to Asset:Bank Account. This way I track that I paid the full expense initially, but I got back half and ultimately I paid half in the end. Does that make sense or is that the wrong way to go about it? Also can I apply the same logic to a joint account we use: 1. Create Asset: GF Joint Account Contributions 2. When she puts money in Joint Account I credit the joint account and debit the GF Joint Account Contributions 3. The joint account will have the correct balance, but with respect to my total assets the GF Joint Account Contributions will be debit for that amount so will offset my total assets. 4. When a expense comes out of the joint account record the expense being paid from that account as normal. 5. Credit the GF Joint Account Contributions with her share of the expense and debit the expense. So for my books it shows the amount I actually paid to the expense. Thanks! -- Sent from: http://gnucash.1415818.n4.nabble.com/GnuCash-User-f1415819.html _______________________________________________ gnucash-user mailing list [email protected] To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
