Re: Handling Employee Expenses

[Luke <..hidden..>]

On Thu, 31 Dec 2009, Michael Richardson wrote:

> It looks something like:
> 
> PART 1                                       
> (AP transaction against, say, "Grand and Toy", attach receipt to printout)    
> "Office Supplies" (expense account)              +$10     
> "Accounts Payable"                                         +$10
> 
> "Michael Richardson expense" (asset account)     -$10
> "Accounts Payable"                                         -$10          
> 
> PART 2
> (AP transaction against, vendor "Michael Expenses")
> "Michael Richardson expense"                     +$10

Which I presume to be a different account then the account of the same 
name referenced above--this one being an expense account with ap_amount 
checked, whereas the other is an asset (not liability?) account set as 
ap_paid?

If they are the same account, the program will not let you choose 
ap_amount and ap_paid at the same time, which makes sense given that one 
is for record accounts and the other is for cash accounts.

> "Accounts Payable"                                         +$10
> 
> "Checquing Account"                              -$10
> "Accounts Payable"                                         -$10

Apologies for being thick.
I'm a programmer, not an accountant.:(

Luke