Thank you for the help. It's just what I needed. On Thursday, July 27, 2023 at 6:45:05 PM UTC-4 Michael Cordover wrote:
> I think you want a liability account for the estate, and a corresponding > personal asset. > > So something like: > > 2023-07-27 Transfer advance to Estate account > Assets:Estate:Checking:MyBank $100 > Liabilities:Estate:Advances -$100 > Assets:Loans:Advances-to-Estate $100 > Assets:Checking:MyBank > > 2023-07-28 Purchase on behalf of Estate > Expenses:Estate:Utilities:Electricity $75 > Liabilities:Estate:Advances -$75 > Assets:Loans:Advances-to-Estate $75 > Assets:Checking:MyBank > > and then your balance looks like: > > $100 Assets > $-175 Checking:MyBank > $100 Estate:Checking:MyBank > $175 Loans:Advances-to-Estate > $75 Expenses:Estate:Utilities:Electricity > $-175 Liabilities:Estate:Advances > > So you have -$175 in your account (I started with a zero balance); the > estate account has $100 in it (again, zero starting balance), but you're > entitled to $175 back from the estate (Assets:Loans:Advances-to-Estate) and > the estate has an account showing what it owes back to you > (Liabilities:Estate:Advances). > > You can then pay yourself back with a transaction like: > > 2023-07-28 Reimburse Pete > Assets:Estate:Checking:MyBank -$100 > Liabilities:Estate:Advances $100 > Assets:Loans:Advances-to-Estate -$100 > Assets:Checking:MyBank ; implicitly +$100 > > In my experience estates tend to be separate accounting entities from your > personal accounts, so I would even consider structuring those accounts as > Estate:Assets:Checking:MyBank, Estate:Liabilities:Advances-to-Pete etc, > just to make the distinction super obvious. > > mjec > > On Thu, Jul 27, 2023, at 15:42, Pete Kelly wrote: > > Hi all, new Ledger user, and I'm handling the estate of a family member. > To pay some of the bills I'm advancing the estate money from my own > account. I'd like to keep track of each advance, but I'm not sure how to > assign these transactions to the correct accounts. I've been using 'Estate' > and 'Advance' to keep track. > > Here's an example of a transfer from one account to another: > > 2023-07-27 Transfer > Assets:Estate:Checking:MyBank $100 ; receiving account > Assets:Checking:MyBank > > Here's a purchase: > > 2023-07-27 Eversource > Expenses:Advance:Estate:Utilities:Electricity. $75.00 > Assets:Checking:MyBank > > Can anybody suggest how to do this correctly? Maybe I should use tags > instead? > > Thanks for any help, > Pete > > > -- > > --- > You received this message because you are subscribed to the Google Groups > "Ledger" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to [email protected]. > To view this discussion on the web visit > https://groups.google.com/d/msgid/ledger-cli/50008b27-1272-4ed9-ac80-39b0a78df4f9n%40googlegroups.com > > <https://groups.google.com/d/msgid/ledger-cli/50008b27-1272-4ed9-ac80-39b0a78df4f9n%40googlegroups.com?utm_medium=email&utm_source=footer> > . > > > -- --- You received this message because you are subscribed to the Google Groups "Ledger" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To view this discussion on the web visit https://groups.google.com/d/msgid/ledger-cli/ecea28e2-e0c1-4860-b215-425588d9931dn%40googlegroups.com.
