Just a quick question to add to the top of this, just because it is something I've been thinking about too...
Lets say someone sets up a liability, you owe yourself (or your company) money as happened in this thread. Lets say I want to charge myself interest, what is the most automatic way to calculate what you need to pay yourself back with? (Or in this case, pay your employees with)? My situation is a reserve account, sort of like a trust in the documentation, that acts as an account within an account for something I'm saving for. Some months I might not be able to make the reserve, but perhaps I can pay into it next month the same amount plus the interest it would have earned in the savings account. How do I calculate and account for that interest? Thanks, I appreciate any help. I was figuring this out on my own and got a bit stuck. --Michael On Wed, Apr 6, 2011 at 10:30 AM, Darald Bantel <[email protected]> wrote: > > > On Wed, Apr 6, 2011 at 8:43 AM, Eric Abrahamsen > <[email protected]>wrote: > >> On Wed, Apr 06 2011, Peter Ross wrote: >> >> > On Wed, Apr 6, 2011 at 10:20 PM, Eric Abrahamsen >> > <[email protected]> wrote: >> >> On Wed, Apr 06 2011, Michael Norrish wrote: >> >> >> >>> On 6/04/11 6:24 PM, Eric Abrahamsen wrote: >> >>>> I'm getting used to the more complex usages of Ledger, and have a >> little >> >>>> scenario that I hope someone will help walk me through. I'm running >> >>>> Ledger 3. >> >>>> >> >>>> I have a small company with a few employees, we've just gotten >> started. >> >>>> I'm a terrible boss -- I was unable to pay salaries for the first >> couple >> >>>> of months. To make it up I paid part of the salaries out of my own >> >>>> personal account. Later our revenue stream kicked in, and I paid >> myself >> >>>> back for the salaries. >> >> >> >> [...] >> >> >> >>> How about >> >>> >> >>> 2011/01/01: >> >>> Expenses:Salaries:Bob 5000 RMB >> >>> Liabilities:Deferred Salaries >> >>> >> >>> 2011/02/01: >> >>> Expenses:Salaries:Bob 5000 RMB >> >>> Liabilities:Deferred Salaries >> >>> >> >>> 2011/02/20: >> >>> Assets:Bank Account 10000 RMB >> >>> Liabilities:Owe Founder >> >>> >> >>> 2011/02/20: >> >>> Liabilities:Deferred Salaries 20000 RMB >> >>> Assets:Bank Account >> >>> >> >>> 2011/03/05: >> >>> Assets:Bank Account 20000 HKD >> >>> Income:Project1 >> >>> >> >>> 2011/03/06: >> >>> Liabilities:Owe Founder 10000 RMB >> >>> Assets:Bank Account -500 HKD >> >> >> >> Thanks for the quick and helpful answer! I like the usage of >> >> Liabilities, that definitely seems right. I guess I was originally >> >> wondering if there was something I should be doing with effective >> dates, >> >> because doesn't the above make it look like money is actually changing >> >> places on January and February first? Or am I misreading this? >> >> >> > If I understand correctly >> > >> > Jan 1 you paid your employees from your personal bank account. >> >> No, that was part of the problem -- no one got paid anything until >> February 20 (they are patient people), at which point I gave them two >> months' salary. I did want a solution that somehow both indicated when >> they were *supposed* to get paid, and then when they *actually* got >> paid. If the repayment to myself could be somehow tied to the actual >> payments to them, that would be nice, but I don't see how that would >> happen. >> > > Some ideas - - Write it as a deferred spending account 2 levels deep. > > 1. expense - salaries etc > liability - - insufficient funds account (original payment date (what > you wanted to do!)) > > 2. expense - - insufficient funds account > liability - - personal account (with date (charge interest or whatever > you want and bill fully) > > 3. expense - personal account > liability - salaries > > > As I understand it: > > You have now noted that you had an obligation at x date. > You were unable to pay at that date. > You paid from personal funds on a later date. > The company repaid you on a 3rd date. > > IANAA (i am not an accountant) YMMV > > Darald > >
