Posting expense reimbursements

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Posting expense reimbursements

Jeffrey B. Ferland-2
I have one thing that I've been stuck on in dealing with gnucash, and  
that is being able to accept an invoice payment that is posted to an  
expense account rather than an asset / income account.

Basically, I get a cell phone bill every month that is not mine, and  
I pay it off using my credit card. Bill received, bill paid. I then  
want to use the money I receive from my invoice to balance my  
Expenses.Phone account so it looks like I didn't have the expense in  
the first place... thereby balancing my credit card properly and also  
not making it appear as if I'm spending money on a phone each month  
when I check my expense reports.

This has been working when done manually without billing / invoicing,  
but I'd like to change it so I"m using that more. Thoughts?

-Jeff
SIG: HUP
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Re: Posting expense reimbursements

Derek Atkins
"Jeffrey B.Ferland" <[hidden email]> writes:

> I have one thing that I've been stuck on in dealing with gnucash, and  
> that is being able to accept an invoice payment that is posted to an  
> expense account rather than an asset / income account.
>
> Basically, I get a cell phone bill every month that is not mine, and  
> I pay it off using my credit card. Bill received, bill paid. I then  
> want to use the money I receive from my invoice to balance my  
> Expenses.Phone account so it looks like I didn't have the expense in  
> the first place... thereby balancing my credit card properly and also  
> not making it appear as if I'm spending money on a phone each month  
> when I check my expense reports.
>
> This has been working when done manually without billing / invoicing,  
> but I'd like to change it so I"m using that more. Thoughts?

You don't want to use an Expense Account at that point.  You want to
use an Asset Account to show that the money spent on that Cell Phone
really isn't an expense, but it's money that someone else owes you.

Also, have you looked at Vendor Bills and Expense Vouchers?  Those let
you post to Expense Accounts, and let you tie the expense to a
chargeback customer who then pays you.  However it doesn't post to
balance offset the expense; it increases your Income:Reimbursement
account.

Hopefully an Accountant can pipe in and give you his/her opinion.

-derek
--
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
       [hidden email]                        PGP key available
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Re: Posting expense reimbursements

Andrew Sackville-West


Derek Atkins wrote:

> Also, have you looked at Vendor Bills and Expense Vouchers?  Those let
> you post to Expense Accounts, and let you tie the expense to a
> chargeback customer who then pays you.  However it doesn't post to
> balance offset the expense; it increases your Income:Reimbursement
> account.

IANAA, sorry, but you have to be careful about increasing your income.
depends on your local, regional and federal tax scheme. In some
jurisdictions, you have to pay a tax on gross income without offset. In
that case you definitely don't want to call that income as you'd be
taxed on it. For most other purposes though, i think it doesn't matter,
as your net number is the same and that's what really counts.

my .02

A
>
> Hopefully an Accountant can pipe in and give you his/her opinion.
>
> -derek
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Re: Posting expense reimbursements

ssc1478
In reply to this post by Jeffrey B. Ferland-2
On Sat, 2005-12-17 at 10:00 -0500, Jeffrey B.Ferland wrote:
<snip>
> Basically, I get a cell phone bill every month that is not mine, and  
> I pay it off using my credit card. Bill received, bill paid. I then  
> want to use the money I receive from my invoice to balance my  
> Expenses.Phone account so it looks like I didn't have the expense in  
> the first place... thereby balancing my credit card properly and also  
> not making it appear as if I'm spending money on a phone each month  
> when I check my expense reports.

I enter this type of transaction as a debit to a suspense account like
Liabilities:Suspense:ReimbursableCellPhoneBill

then when the actual reimbursement comes in, a debit to Assets:Cash and
a credit to Liabilities:Suspense:ReimbursableCellPhoneBill

If I never get the reimbursement, at some point I would have to expense
it.

Disclaimer: I don't know if this is an accepted accounting practice.

hth,
Phil

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