>>>>> Matt Seburn <[email protected]> writes:
> How do I represent the situation where I loan someone else money? The > specific situation I have in mind involves buying someone for something out > of my chequing account, and then receiving cash as repayment. How do I (a) > properly record the loan in the first place, and (b) mark it as repaid > without necessarily depositing the funds into my account? I consider loans to other people as an asset held at another location, so it's never "income" when the money is simply transferred back to me. It's my money either way. Now if the loan gets forgiven, then I transfer it to an Expense. John
