Mike,
I figured it out with your suggestions, thanks!
On Sun, 2019-12-15 at 15:05 -0600, Daffy Duck wrote:
> Mike,
> Sorry, Just a better explanation on my part:
> For instance, the electric bill is paid by credit card, and it is
> transferred from expenses:house:utilities:electric, and may be $100
> So it takes $100 from credit card and transfers to
> expenses:house:utilities:electric - I list this account as an
> expense, which seems right, because 90% of it is.
> I can then deduct 10% of that that will be reimbursed. This is where
> I'm messing up... the best way to annotate that. Do I need ONE or
> TWO more accounts to track this? Right now, as mentioned, I have an
> expenses:personal expenses paid account, which seems to be wrong,
> where I annotate 10% of that electric bill and it transfers from
> asset = the money that the business has to reimburse me.
> I hope that makes sense,
> Thanks.
> On Sun, 2019-12-15 at 14:54 -0600, Daffy Duck wrote:
> > Mike,
> > Thanks. If I hadn't learned basic bookkeeping, I wouldn't have
> > been using gnucash without major issues for the last 15+ years.
> > I don't think split is the way to go here, because it's mirrored to
> > an actual transaction(but I could be wrong).
> > For instance, the electric bill is paid for by the credit card, and
> > the transfer is between credit card and
> > house:expenses:utilities:electricity - that is where the 100% of
> > the charge shows
> > I then annotate it separately, the 10%, in expenses:expenses I paid
> > - I am thinking this may be wrong, because now it's showing 110%
> > under combined expenses, because I already showed 10%
> > The transfer here is from the assets - debts to company
> > When I'm reimbursed, it transfers from my checking account, where
> > it is deposited, and should decrease the amount from assets: debts
> > to company. Instead, it is increasing(or decreasing a negative,
> > which means it looks like an additional charge).
> > That is what I'm trying to figure out what to do differently. I
> > think this is beyond basic bookkeeping. I'll admit I probably
> > should have known about this before, but I thought I'd ask because
> > I'm able to do everything else with gnucash and I have been for
> > over 15 years.
> > Thank you for your time,
> > On Sun, 2019-12-15 at 10:59 -0500, Michael or Penny Novack wrote:
> > > 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 $10credit: 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
> > > > expensesthat the business reimburses me for due to using a home
> > > > office. Thisis separate from using a business credit card,
> > > > because only a portionis 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
> > > > paidpersonally, and it's transferred from expense debt
> > > > account(expense debtdecreases as expenses increase)
> > > > This was working fine, but when I was reimbursed for my
> > > > expenses to mychecking account, I had it transfer between
> > > > expense debt, so it woulddecrease the amount that the business
> > > > owes me.
> > > > The problem is, it's already in the negative as its listed as
> > > > anasset(expense debt), so the reimbursement payment just
> > > > increases theamount of that, going the opposite way I'm trying
> > > > to go.
> > > > Instead of the business debt being $437 and I get reimbursed
> > > > for $437and make it 0, it's listed as -$437 and after the
> > > > reimbursement hits,it's -$874.
> > > > What am I doing wrong here?
> > > > Thank you,
> > > > _______________________________________________gnucash-user
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