On Tue, Jan 3, 2012 at 9:01 AM, John Wiegley <[email protected]> wrote:
> 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.
That's exactly what I do:
2012/01/01 * Loan to Bob
Assets:Receivable:Bob $50.00
Assets:Checking
2012/01/01 * Bob Loan Repayment
Assets:Checking $10.00
Assets:Receivable:Bob
I treat bills that my girlfriend and I split the same way. I have an
automated transaction that matches particular categories of expenses
and transfers half of them from that particular expense account into
her receivable account, and then I have a little script that that
dumps the outstanding entries and emails it to her.
