Re: Collecting payments from others then remitting to one vendor
On 1/12/2018 8:48 PM, Christopher Lam wrote: You could do liability accounts for each utility bill but I like the concept of 'kitty funds' which gives you/them a real-time view of monies owed by whom. I would make the choice (asset accounts or liability accounts) depending on whether they usually paid you their share in advance or usually reimbursed you afterwards. Then on rare times when the other way around, the transactions "contra". But if the arrangement is new you won't have that history. Note that even if you started one way, you can easily enough change this around later if their behavior changes. Michael D Novack ___ 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.
Re: Collecting payments from others then remitting to one vendor
You could do liability accounts for each utility bill but I like the concept of 'kitty funds' which gives you/them a real-time view of monies owed by whom. *You pay the full $30 bill from your bank, but only $10 is your share* Asset:Bank -$30 Expense:Utilities $10 Asset:Alice $10 Asset:Bob $10 *The $10 are your assets because you are owed $10 from each, and they can discharge their debt anytime* Asset:Alice -$10 Asset:Bank $10 Her balance is now $0 *Another day you buy $30 groceries but Bob asks you to buy $10 item on her behalf* Expense:Groceries $30 Asset:Bob $10 Asset:Bank -$40 Bob's balance is now $20. (He owes you) On 13 January 2018 at 11:15, gn00b wrote: > So my roommates and I split utilities cost and every month they remit to me > the required amount and I then remit all of those smaller payments to our > utilities company. What's the best way to set up the accounts/transactions > so I only have an expense of what I owe. > > Example: > > Utilities bill is $30 > > Roommate A: $10 > Roommate B: $10 > Me: $10 > > I collect $10 from A and B and remit $30 to the utilities company. > > > > -- > Sent from: http://gnucash.1415818.n4.nabble.com/GnuCash-User-f1415819.html > ___ > 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.
Re: Collecting payments from others then remitting to one vendor
On Saturday, 13 January 2018 00:15:07 GMT gn00b wrote: > So my roommates and I split utilities cost and every month they remit to me > the required amount and I then remit all of those smaller payments to our > utilities company. What's the best way to set up the accounts/transactions > so I only have an expense of what I owe. > > Example: > > Utilities bill is $30 > > Roommate A: $10 > Roommate B: $10 > Me: $10 > > I collect $10 from A and B and remit $30 to the utilities company. > > Hi, I'd imagine that setting up your roommates as liability accounts might work. Consider that you don't "own" the money they've contributed - you're just looking after it in your current account until it either goes to pay the bill or, if the bill were ever to be cancelled, you'd owe the money back to your buddies. then, when you pay the bill, you end up with a multi split transaction, reducing your bank account (the total bill), the roommate liability accounts (by their contributions), but increasing expense:utility by your share. HTH, Maf. w ___ 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.
Collecting payments from others then remitting to one vendor
So my roommates and I split utilities cost and every month they remit to me the required amount and I then remit all of those smaller payments to our utilities company. What's the best way to set up the accounts/transactions so I only have an expense of what I owe. Example: Utilities bill is $30 Roommate A: $10 Roommate B: $10 Me: $10 I collect $10 from A and B and remit $30 to the utilities company. -- Sent from: http://gnucash.1415818.n4.nabble.com/GnuCash-User-f1415819.html ___ 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.