Re: [GNC] Tracking Reimbursable Medical Expenses
Aaron, Having it as a subaccount will work. It's only purpose is to track the reimbursable amount. David - David Cousens -- Sent from: http://gnucash.1415818.n4.nabble.com/GnuCash-User-f1415819.html ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: [GNC] Tracking Reimbursable Medical Expenses
I see. Responses inline. On Sat, Jan 5, 2019 at 10:58 PM David Cousens wrote: > Aaron > > Asset:HSA is your savings fund. The payment of money into that account is > exactly as you priginally proposed. > > The 4 way split > > Asset:Medical Reimbursable $5 > > Liability:Credit Card $5 > > Expenses:Medical$5 > > Asset:HSA $5 > This all makes sense and makes the numbers work which is better than anything I came up with! The only problem I have with it is: reconciling the HSA account is difficult when the balance of the HSA bank account represented in the books over two accounts, HSA and Medical Reimbursable. Maybe that can be made easier in GNU Cash by making Medical Reimbursable a subaccount of HSA. Then reconciliation can be done "with subaccounts". At first review, this seems very good. I'll put it into practice and let you know if there's something that's not working right. Thank you very much! ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: [GNC] Tracking Reimbursable Medical Expenses
On 1/5/19 7:51 PM, David Cousens wrote: > Aaron > > Asset:HSA is your savings fund. The payment of money into that account is > exactly as you priginally proposed. > > The 4 way split >> Asset:Medical Reimbursable $5 >> Liability:Credit Card $5 >> Expenses:Medical$5 >> Asset:HSA $5 > records 2 simultaneous events. It makes a bit more sense when you consider > the two events separately > > Firstly your payment of the medical expense with your credit card > : > Expenses:Medical$5 > Liability:Credit Card $5 > > and the creation of an obligation to reimburse the expenditure to your bank > account from your HSA account: > > Asset:Medical Reimbursable $5 this account > tracks what you have to reimburse to your bank account > Asset:HSA $5 > > And when you actually reimbuse money > >> Asset:Bank$5 >> Asset:MedicalReimbursable $5 > If the balance of Asset:MedicalReimbursable is not 0 then you have expenses > you have incurred but not reimbursed from the HSA. This is exactly the same > as the way Asset:Account Receivable works when you extend credit to a > customer in a business environment with the business features. In this case > the HSA is effectively the customer, who owes you money. > > > David Thanks David. I was pulling out a blank sheet and scribbling T accounts all over it. I managed to follow by breaking each pair of lines into numbered transactions to the various T accounts. I was trying to pair the Medical Expense up with the Liability account and was stymied that that point. This approach broke the logjam. Hopefully the OP follows also. --Steve -- Stephen M Butler, PMP, PSM stephen.m.butle...@gmail.com kg...@arrl.net 253-350-0166 --- GnuPG Fingerprint: 8A25 9726 D439 758D D846 E5D4 282A 5477 0385 81D8 ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: [GNC] Tracking Reimbursable Medical Expenses
Aaron Asset:HSA is your savings fund. The payment of money into that account is exactly as you priginally proposed. The 4 way split > Asset:Medical Reimbursable $5 > Liability:Credit Card $5 > Expenses:Medical$5 > Asset:HSA $5 records 2 simultaneous events. It makes a bit more sense when you consider the two events separately Firstly your payment of the medical expense with your credit card : Expenses:Medical$5 Liability:Credit Card $5 and the creation of an obligation to reimburse the expenditure to your bank account from your HSA account: Asset:Medical Reimbursable $5 this account tracks what you have to reimburse to your bank account Asset:HSA $5 And when you actually reimbuse money > Asset:Bank$5 > Asset:MedicalReimbursable $5 If the balance of Asset:MedicalReimbursable is not 0 then you have expenses you have incurred but not reimbursed from the HSA. This is exactly the same as the way Asset:Account Receivable works when you extend credit to a customer in a business environment with the business features. In this case the HSA is effectively the customer, who owes you money. David - David Cousens -- Sent from: http://gnucash.1415818.n4.nabble.com/GnuCash-User-f1415819.html ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: [GNC] Tracking Reimbursable Medical Expenses
Maybe what isn't clear is that the HSA account is "just" another asset account in my books. It's mostly populated by my employer, but I add pre-tax money to it, too. Aaron, I had assumed that was the case from your original description. David ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: [GNC] Tracking Reimbursable Medical Expenses
Thank you for your response; questions inline. On Fri, Jan 4, 2019 at 5:29 PM Stephen M. Butler wrote: > At my previous employment (prior to retirement) the HSA account came > with a charge card (used like a credit card) so the charges went > directly against the HSA account. Made tracking very simple and didn't > have to send in reimbursement forms. I presume that isn't the case with > your employer's HSA processor. > I was issued a debit card with direct access to the HSA funds. I don't use it because if I use my credit card, I get money back, and I don't want to carry another card. > I might be tempted to get a second credit card to use only for the > medical items and pay that with reimbursement from the HSA. That way the > balance on that card is what is still outstanding. > This is why I use double-entry accounting: so I don't have to do stuff like that ;-) > Thinking further. If I as an employee charge something to my credit > card that I will get reimbursed from my employer then things get trickier: > It's not reimbursed by my employer. If that was the case, then I think things would get simple: it's not my expense. There would be no expense:medical because the expense is actually my employer's expense. As it is, the HSA money is *mine*, and the medical expense is *mine*. I think what gets complicated is the rule that I can only transfer money from *my* HSA to my chequing account in amounts equal to my medical expenses, and I would like to track that accruing amount. > 1. I charge the item and enter a transaction between Liability:CC and > Expense:whatever. > > 2. I eventually (monthly) pay off the credit card from checking > (Assets:Checking and Liability:CC). > > 3. Somewhere in there I fill out an expense statement and send it in. > That expense is no longer mine so I need to transfer it out of my > expenses. Assets:Reimbursement:MyEmployer and Expense:whatever > (offsetting item #1) > Yeah, that's what I was saying above. In this case, step one can be a transaction between Liability:CC and AR:MedicalReimbursable > 4. Finally I get paid and deposit the funds into my checking account. > Assets:Checking and Assets:Reimbursement:MyEmployer > > In this case the HSA replaces the Employer. And here you are acting on > both sides. So, to continue: > > 5. Employer (HSA) gets the reimbursement request and sends out the > funds. (HSA:Expense:Medical and Assets:HSA). > > I really like the idea of a second CC and it gets paid only when > reimbursed by the HSA (simplifies the accounts). > > --Steve > This sounds great except that the medical expense is mine. Any more suggestions? Thanks again! ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: [GNC] Tracking Reimbursable Medical Expenses
Thank you very much. Questions in line. On Fri, Jan 4, 2019 at 5:46 PM David Cousens wrote: > Aaron, > > The Answer is yes but to use the inbuilt Accounts Receivable you would need > to use the Business features Invoicing and linking of payments to Invoices > etc. > > An Accounts receivable is simply an Asset account with some additional > reporting capability attached to it so you simple create an asset account > Asset:MedicalReimbursable. > > The recording events are as follows When you pay a medical expense with > your > credit card use a multisplit(4) transaction as follows: > > Asset:Medical Reimbursable $5 > Liability:Credit Card $5 > Expenses:Medical$5 > Asset:HSA $5 What is Asset:HSA? If it's the actual HSA account holding my money earmarked for medical expenses, it should be funded by revenue:Employer HSA Contributions. > When you pay your credit card (this will be lumped in with other > transactions): > > Liability:Credit Card $5 > Asset:Bank $5 > > When you record your reimbursement: > > Asset:Bank$5 > Asset:MedicalReimbursable $5 > > The balance in the Asset:Medical Reimbursable account tells you how much > you > have outstanding. As there is no linking to payments it is a bit harder to > identify which reimbursements are linked to which payments but you can > always use the memo field to identify the date of the expense the > remimbursment is associated with for example. > > David Cousens > Maybe what isn't clear is that the HSA account is "just" another asset account in my books. It's mostly populated by my employer, but I add pre-tax money to it, too. ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: [GNC] Tracking Reimbursable Medical Expenses
David No problem. I wasn't aware that the previous reply didn't show up outside Nabble. David Cousens - David Cousens -- Sent from: http://gnucash.1415818.n4.nabble.com/GnuCash-User-f1415819.html ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: [GNC] Tracking Reimbursable Medical Expenses
Your reply used a phrase similar to "to implement this you need to use the business features" (I don't see the text of your previous reply here because you're using Nabble). My sense was that you were saying the OP had to use them. That was why I posted my comment. David T. On January 5, 2019, at 12:02 PM, David Cousens wrote: David T, That is what the above transactions and account structure does - implement an accounts receivable structure without using the business features. David Cousens - David Cousens -- Sent from: http://gnucash.1415818.n4.nabble.com/GnuCash-User-f1415819.html ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - 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 To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: [GNC] Tracking Reimbursable Medical Expenses
David T, That is what the above transactions and account structure does - implement an accounts receivable structure without using the business features. David Cousens - David Cousens -- Sent from: http://gnucash.1415818.n4.nabble.com/GnuCash-User-f1415819.html ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: [GNC] Tracking Reimbursable Medical Expenses
Of course, one could implement an accounts receivable structure without using the business features. The user would create the appropriate accounts, and add transactions to document things manually. On Sat, Jan 5, 2019 at 4:14, David Cousens wrote: Aaron, The Answer is yes but to use the inbuilt Accounts Receivable you would need to use the Business features Invoicing and linking of payments to Invoices etc. An Accounts receivable is simply an Asset account with some additional reporting capability attached to it so you simple create an asset account Asset:MedicalReimbursable. The recording events are as follows When you pay a medical expense with your credit card use a multisplit(4) transaction as follows: Asset:Medical Reimbursable $5 Liability:Credit Card $5 Expenses:Medical $5 Asset:HSA $5 When you pay your credit card (this will be lumped in with other transactions): Liability:Credit Card $5 Asset:Bank $5 When you record your reimbursement: Asset:Bank $5 Asset:MedicalReimbursable $5 The balance in the Asset:Medical Reimbursable account tells you how much you have outstanding. As there is no linking to payments it is a bit harder to identify which reimbursements are linked to which payments but you can always use the memo field to identify the date of the expense the remimbursment is associated with for example. David Cousens - David Cousens -- Sent from: http://gnucash.1415818.n4.nabble.com/GnuCash-User-f1415819.html ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - 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 To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: [GNC] Tracking Reimbursable Medical Expenses
Aaron, The Answer is yes but to use the inbuilt Accounts Receivable you would need to use the Business features Invoicing and linking of payments to Invoices etc. An Accounts receivable is simply an Asset account with some additional reporting capability attached to it so you simple create an asset account Asset:MedicalReimbursable. The recording events are as follows When you pay a medical expense with your credit card use a multisplit(4) transaction as follows: Asset:Medical Reimbursable $5 Liability:Credit Card $5 Expenses:Medical$5 Asset:HSA $5 When you pay your credit card (this will be lumped in with other transactions): Liability:Credit Card $5 Asset:Bank $5 When you record your reimbursement: Asset:Bank$5 Asset:MedicalReimbursable $5 The balance in the Asset:Medical Reimbursable account tells you how much you have outstanding. As there is no linking to payments it is a bit harder to identify which reimbursements are linked to which payments but you can always use the memo field to identify the date of the expense the remimbursment is associated with for example. David Cousens - David Cousens -- Sent from: http://gnucash.1415818.n4.nabble.com/GnuCash-User-f1415819.html ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: [GNC] Tracking Reimbursable Medical Expenses
On 1/4/19 10:59 AM, Aaron Laws wrote: > I have a Health Savings Account in the United States as part of a > high-deductible health insurance plan. It is an Asset account that holds my > income tax-deductible money for use on medical expenses only. Every so > often money is put into it: > > Assets:HSA$10 > Revenue:Employer $10 > > When I incur a medical expense, I use my personal credit card to pay for it: > > Expenses:Medical $5 > Liability:Credit Card $5 > > After a while, I reimburse myself for the medical expenses that have > accumulated to date: > > Assets:Chequing $5 > Assets:HSA $5 > > The trouble with this is it doesn't track the current amount of unpaid > claims. Is there a way to work in an Assets:Accounts Receivable:Outstanding > Medical Reimbursements or something like that? I would appreciate any > feedback about how to deal with this situation. Thank you! > > In Christ, > Aaron Laws At my previous employment (prior to retirement) the HSA account came with a charge card (used like a credit card) so the charges went directly against the HSA account. Made tracking very simple and didn't have to send in reimbursement forms. I presume that isn't the case with your employer's HSA processor. I might be tempted to get a second credit card to use only for the medical items and pay that with reimbursement from the HSA. That way the balance on that card is what is still outstanding. Thinking further. If I as an employee charge something to my credit card that I will get reimbursed from my employer then things get trickier: 1. I charge the item and enter a transaction between Liability:CC and Expense:whatever. 2. I eventually (monthly) pay off the credit card from checking (Assets:Checking and Liability:CC). 3. Somewhere in there I fill out an expense statement and send it in. That expense is no longer mine so I need to transfer it out of my expenses. Assets:Reimbursement:MyEmployer and Expense:whatever (offsetting item #1) 4. Finally I get paid and deposit the funds into my checking account. Assets:Checking and Assets:Reimbursement:MyEmployer In this case the HSA replaces the Employer. And here you are acting on both sides. So, to continue: 5. Employer (HSA) gets the reimbursement request and sends out the funds. (HSA:Expense:Medical and Assets:HSA). I really like the idea of a second CC and it gets paid only when reimbursed by the HSA (simplifies the accounts). --Steve -- Stephen M Butler, PMP, PSM stephen.m.butle...@gmail.com kg...@arrl.net 253-350-0166 --- GnuPG Fingerprint: 8A25 9726 D439 758D D846 E5D4 282A 5477 0385 81D8 ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
