Re: gnucash-user Digest, Vol 122, Issue 20

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Re: gnucash-user Digest, Vol 122, Issue 20

Peter Kiessling

On May 16, 2013, at 8:51 AM, [hidden email] wrote:

Message: 7
Date: Thu, 16 May 2013 10:35:46 -0400
From: Derek Atkins <[hidden email]>
To: "Martijn\, Brandy & Grace" <[hidden email]>
Cc: [hidden email]
Subject: Re: Type of account for advanced money?
Message-ID: <[hidden email]>
Content-Type: text/plain; charset=us-ascii

Hi,

"Martijn, Brandy & Grace" <[hidden email]> writes:

> Hello,
>
> I advanced some money for a company I worked for (basicly I put some
> business stuff on my credit card), what type of account should I make
> for that under what catagory?

IANAA but I'd record it as an Asset (money owed to you).

> And how would I process the reimbursement? The reimbursement is a
> check and will be deposited into my checking account, from there I
> have to transfer it back to my credit card.

As a transfer from your Asset back to your Bank account.

> Thanks so much and have a blessed day!
>
> Martijn

> Please remember to CC this list on all your replies.
> You can do this by using Reply-To-List or Reply-All.

-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

I have a slightly different take on this which works for me.
I have an Expense account(s) ( children as appropriate) for reimbursed or possible reimbursed expenses. The credit card then gets the initial entry (liability- credit) and the expense account is the other side - debit. I pay the whole credit card bill which of course includes those possible reimbursed expenses.(checking=credit; credit card= debit) When I get reimbursed the check goes to the checking account (asset-debit) and the other side is the reimbursed expense account(credit) which hopefully returns to zero.  This also works for things like Medical expenses I pay and later get reimbursed.

-Pete




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Re: gnucash-user Digest, Vol 122, Issue 20

Noah Ulrich
could you unsuscribe me?


On Thu, May 16, 2013 at 2:57 PM, Peter Kiessling <[hidden email]> wrote:

>
> On May 16, 2013, at 8:51 AM, [hidden email] wrote:
>
> Message: 7
> Date: Thu, 16 May 2013 10:35:46 -0400
> From: Derek Atkins <[hidden email]>
> To: "Martijn\, Brandy & Grace" <[hidden email]>
> Cc: [hidden email]
> Subject: Re: Type of account for advanced money?
> Message-ID: <[hidden email]>
> Content-Type: text/plain; charset=us-ascii
>
> Hi,
>
> "Martijn, Brandy & Grace" <[hidden email]> writes:
>
> > Hello,
> >
> > I advanced some money for a company I worked for (basicly I put some
> > business stuff on my credit card), what type of account should I make
> > for that under what catagory?
>
> IANAA but I'd record it as an Asset (money owed to you).
>
> > And how would I process the reimbursement? The reimbursement is a
> > check and will be deposited into my checking account, from there I
> > have to transfer it back to my credit card.
>
> As a transfer from your Asset back to your Bank account.
>
> > Thanks so much and have a blessed day!
> >
> > Martijn
>
> > Please remember to CC this list on all your replies.
> > You can do this by using Reply-To-List or Reply-All.
>
> -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
>
> I have a slightly different take on this which works for me.
> I have an Expense account(s) ( children as appropriate) for reimbursed or
> possible reimbursed expenses. The credit card then gets the initial entry
> (liability- credit) and the expense account is the other side - debit. I
> pay the whole credit card bill which of course includes those possible
> reimbursed expenses.(checking=credit; credit card= debit) When I get
> reimbursed the check goes to the checking account (asset-debit) and the
> other side is the reimbursed expense account(credit) which hopefully
> returns to zero.  This also works for things like Medical expenses I pay
> and later get reimbursed.
>
> -Pete
>
>
>
>
> _______________________________________________
> gnucash-user mailing list
> [hidden email]
> https://lists.gnucash.org/mailman/listinfo/gnucash-user
> -----
> Please remember to CC this list on all your replies.
> You can do this by using Reply-To-List or Reply-All.
>



--
The Lord is MY SHEPHERD
JEHOVAH es MI Pastor

The  Ulrichs
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Re: gnucash-user Digest, Vol 122, Issue 20

jcard21 xxxxxxx
On Thu, May 16, 2013 at 5:15 PM, Noah Ulrich <[hidden email]> wrote:
> could you unsuscribe me?

http://lists.gnucash.org/mailman/listinfo/gnucash-user

and scroll down to the bottom.

---
jcard21
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