I would account for it as your original thought: debit cash, credit gift expense.
As far as you are concerned, you paid for half of the gift, so your total expense is half the cost of the gift. Not all money you receive is income. On Sun, Jan 14, 2018, 14:00 Keith Lewis <kble...@va.metrocast.net> wrote: > I'm new to GC, longtime Quicken user. This is a double-entry accounting > question rather than a GC question-hope that's okay in this mailing list. I > made a purchase for a gift w credit card and used expenses:gifts to > balance. Afterwards, a friend wanted to help with the gift and so paid me > half with cash. I think I should deposit that cash into assets:wallet and > balance with expenses:gift. But isnt the cash from my friend income? Does > this sound right to you? Now imagine my friend had offered ahead of time to > help pay for the gift, but didn't immediately have the cash. I think I > could record the transactions as above or set up a "loan" account to track > the "loan". IOW split liability:creditcard -> expense:gifts > + liability:creditcard -> loan; then when he pays me back, loan -> > asset:wallet.Thanks for your time,Keith > _______________________________________________ > gnucash-user mailing list > gnucash-user@gnucash.org > 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. _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org 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.
