2015-07-20 GnuCash IRC logs
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13:22:49 <jralls> Going offline for the rest of the week.
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14:28:33 <maarhart> I bought a car with my wife. what is the proper way to put that if I don't manage her expenses?
14:28:43 <maarhart> I just put 50% of its cost?
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14:50:09 <warlord> maarhart: that's certainly one approach.
14:50:28 <warlord> But really, it's just a model of the realworld transactions.
14:52:54 <maarhart> warlord: because I found it difficult, for example, if we buy something together but I pay it, and she owes me money, these type of things.
14:54:21 <warlord> are you expecting your wife to pay you back for the car? Is she paying (part of) the loan?
14:55:35 <maarhart> right
14:56:12 <warlord> I asked two yes/no questions; I'm not sure if "right" is "yes" or "no" or "i agree with your line of questioning"?
14:57:20 <maarhart> yes :)
14:57:36 <maarhart> for the first one
14:57:52 <maarhart> for the second one: we did not get a loan
14:58:03 <warlord> So if you are expecting her to pay you back then you should create an Asset account for the amount you expect her to pay back.
15:01:54 <maarhart> warlord: and what to do when she pays?
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15:22:06 <warlord> maarhart: transfer from her Asset account to your bank/cash account
15:23:26 <maarhart> Oh so her asset account would basically consist of money that she has to pay me
15:23:47 <warlord> yes
15:24:12 <maarhart> so it is like a negative liability?
15:24:20 <warlord> yes.
15:24:31 <warlord> (or a liability is a negative asset)
15:25:28 <warlord> @op fell
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15:25:36 <warlord> @op linas
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15:25:53 <warlord> linas: are you around?
15:29:08 <maarhart> but while she owes me, what should I put in 'transfer'?
15:30:37 <warlord> for the purchase or the payments?
15:30:44 <maarhart> oh I got it, nevermind
15:32:01 <warlord> :)
15:44:54 <maarhart> so the balance of that asset account is negative until she pays?
15:54:43 <warlord> If it's an asset and she owes you money then the balance will be positive.
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15:55:01 <warlord> add a negative if you change it to a liability
15:55:10 <warlord> add another negative if you owe her.
15:59:32 <warlord> So, when you buy the car, let's say for $10000, you would make a split transaction. debit Assets:Car $5000 (because you only own half the car), credit Assets:Bank $10000 (total price you paid), and debit Assets:LoanToWife $5000 (the amount you paid her).
15:59:41 <warlord> er, amount you paid *for* her
15:59:56 <warlord> Then when she pays you back you credit A:LtW and debit A:Bank
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