How to account for this?

Andrew wrote in news:7TgGx.12376$ snipped-for-privacy@fx18.iad:

In your Visa account, use the Splt feature to record $25 as Dining and the other $75 as somethng eles, like "Dining:Friends".

Then in your Cash account record the $75 deposit as Dining:Friends. When you generate a spending report you will see $25 under Dining and $0 (75 -

Unless you are paying your Visa bill with Cash, there is no need to transfer anythng.

It's your choice, but I'll tell you what I do:

I make two entries.

1. A 0 Charge in the credit card account, with the category "dining."

1. A "Receive" in the cash account, also with the category "dining."

You can do a single $100 transaction in your credit card account with a split allocation. $25 is assigned to Dining Out or whatever your restaurant category is. $75 is assigned to Petty Cash.

If you don't track cash in a sepearte account, that's the end of the road. Eventually you will spend the $75 your friends gave you on Petty Cash items.

If you do track Petty Cash in a separate account, you just enter the $75 you received from your fields as a deposit in that account.

But won't the $75 in cash remain in the CASH account as an asset with this approach? That cash is long gone....

But as I said to Porter, won't that $75 that you 'receive' and place in the CASH account remain as an asset long after it is spent??

Thanks. I just got back from vacation. I want to see what other replies I get to my other two comments I made, but I think something in your suggestion sounds right. Thanks.

Andrew wrote in news:C2eKx.48965$ snipped-for-privacy@fx20.iad:

If you have a Cash account then I assume you are recording "Spends" as well as "Receives". Your balance should reflect the actual amount of cash in your pocket/wallet/mattress.

No, not if you enter the amounts spent in the cash account. The asset goes away as soon as you enter the expense(s).

So for example:

Date Spend Receive Balance (same as Asset)