Sounds reasonable.
You'd need a liability (or contra-asset) account to handle the parts of
the transaction to facilitate owing and paying your friend.
This is similar to the example in the Guide (or is it the Wiki)
concerning shared household expenses or trip expenses between
I see I was not clear in my description of the transactions.
I wrote a check for the full price of a golf cart to a dealer.
The next day, a friend gave me their half of the cost.
Some years later, I sold the golf cart and I got the full selling price
from the buyer.
A few days later, I gave half
This is an accounting question rather than a GnuCash question. The
answer would be exactly the same if you were keeping your books in a
pen-and-ink paper ledger.
That said, presumably you had an Asset:Golf Cart account, with an
initial balance equal to half the purchase price. When you sell an
McCollam
gmccol...@live.com<mailto:gmccol...@gyleshomes.com> email
From: gnucash-user on
behalf of Fred Tydeman
Sent: Monday, June 27, 2022 7:01 PM
To: Gnucash Users
Subject: [GNC] Split ownership
A friend and I bought a golf cart, each payi
A friend and I bought a golf cart, each paying 1/2 of the price.
Some years later, we sold that golf cart (for less than we paid, splitting
what we got).
How should all of that be recorded?
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