On 2012 Jan 3, at 12:04 AM, Matt Seburn wrote:

> And I can record the incoming cash like so:
>


> 2012/01/03 Cash from Some Friend
> Income:From Some Friend  $-40
> Loans:Some Friend  $-10.95
> Assets:Petty Cash
>


> I have to debit the loans account, to "undo" the initial record.  But,
> then it combines with the incoming cash, and petty cash is shown as
> having $50.95 instead of the difference between the two.


Not sure about the terminology but if what you're trying to do is record
that Some Friend gave you $40, and you recognized $10.95 of it as a loan
repayment, then you might want:

2012/01/03 Cash from Some Friend
   Income:From Some Friend
   Loans:Some Friend  $-10.95
   Assets:Petty Cash   $40.00

and let ledger figure out the Income part. It can only calculate one missing
value in any transaction, but in this case, that's fine.

Hope this helps,
  -Doug

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