Daniel,
I use:
Assets:Current Assets:Reimbursements
I then have category accounts under that for,
Family
Friends
Other
And then individual accounts with each person's name. (I have one for
each sibling, parent, and several close friends where this happens
regularly enough to need them) But you could just use one single account
if you like. The individual account example is nice because you can see
at a glance how much any one specific person owes you or you owe them,
without involving the Business Features which would be overkill.
In all of GnuCash, I use the Description field *only* for 'Payee/Payor',
an old habit from other software, but it serves me well. I use the
'Notes' field (only visible in Double Line mode) for what many others
would call 'description'.
Doing so in your case would show the store name in the Description
field, one of the splits would contain the credit card account, the
other split would be set to your friend's reimbursable account with you.
You could alternatively put the store name in the Notes field. Either
are searchable, and also filterable for a report.
It doesn't involve expense (or income) accounts at all.
In the case of someone owing you, that is an asset. The reverse, you
owing them, would be a liability. So you could put the reimbursable
accounts in either part of the tree. I chose assets because others are
usually owing me, but the reverse does happen occasionally. It is simple
enough to see that the balance is negative, indicating such a condition.
Finally, it wasn't entirely clear from the initial post, but if you
*also* bought something at the same store on the same transaction, then
you of course *would* have one or more splits for your own expenses, but
then additional split(s) for your loan to your friend.
Hope that helps.
Regards,
Adrien
On 9/21/20 9:25 AM, Daniel Fishman wrote:
On 9/21/20 5:15 PM, Christopher Lam wrote:
I wouldn't add an entry into Expenses:shop -- you didn't exactly spend
your
money into this shop.
Spending/lending money:
Liability:credit card -$50
Asset:Friend owes me +$50
Recovering funds:
Asset:Friend owes me -$50
Asset:Cash or bank +$50
It seems to me that using the
Liability:credit card -$50
Asset:Friend owes me +$50
loses a bit of information, since a credit card statement will list the
shop
as the receiver of the money. It seems to me that by omitting the shop
from
being mentioned in any of the entries will make it more difficult to
correlate
the credit card statement with an information in gnucash.
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