Just a periodic reminder about questions like this. We may be able to
help you BUT this is not a question about gnucash, not a question "how
do I do this in gnucash" but how do I set up these accounts/transactions
using ANY method of doing double entry bookkeeping, even the old
fashioned way of pen and ink on lined accounting paper < how it was when
I learned 60+ years ago >
What you are missing --- an expense for which the business reimburses
you is not YOUR expense. You say only a portion is reimbursed> For the
purpose of this example I will assume 1/2 (you use whatever is right
for you). Let's say there is an expense item for share of home office
electric bill and that the home office was assigned 1/8 of the total
electric bill.
You pay an electric bill of $160. You would enter this as a split
transaction:
debits: rest of house electric $140
home office electric $10
reimbursable expenses $10 (this is an asset account;
owed to you by employer -- not YOUR expense)
credits: checking account check #xxxxx
description: paid march electric bill
<< note: I have shown this as would appear in an old fashioned journal
--- a gnucash question might be how do I do it in a virtual journal
system like gnucash, how do I do a split transaction, etc. >>
The company reimburses you for its share of home office expense:
debit: checking account $10
credit: reimbursable expenses $10
description: deposit of reimbursement check
When both of these transactions have completed, the balance in
reimbursable expenses will be zero (had a debit for $10 and a credit for
$10).
I'm sorry, but while gnucash makes the process of entering transactions
easier and MUCH less prone to error than the old fashioned way and makes
producing reports easier it does NOT mean you can skip learning basic
bookkeeping.
Michael D Novack
On 12/15/2019 2:33 AM, Daffy Duck wrote:
Hello,
I'm trying to set up an account scheme that adequately tracks expenses
that the business reimburses me for due to using a home office. This
is separate from using a business credit card, because only a portion
is reimbursable.
The relevant accounts in my personal book are:
Checking account - account type bank
Expense debt - account type asset (since it's owed to me)
Business expense paid personally - Expense
Credit card - credit card
---
Whenever I pay certain bills, I annotate in Business expense paid
personally, and it's transferred from expense debt account(expense debt
decreases as expenses increase)
This was working fine, but when I was reimbursed for my expenses to my
checking account, I had it transfer between expense debt, so it would
decrease the amount that the business owes me.
The problem is, it's already in the negative as its listed as an
asset(expense debt), so the reimbursement payment just increases the
amount of that, going the opposite way I'm trying to go.
Instead of the business debt being $437 and I get reimbursed for $437
and make it 0, it's listed as -$437 and after the reimbursement hits,
it's -$874.
What am I doing wrong here?
Thank you,
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