On Tue, Jan 3, 2012 at 12:07 PM, Peter Keen <[email protected]> wrote: > 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
Thanks everyone, that helps a lot!
