I'm new to accounting and just started using GnuCash for my personal finances.
As an employee (not a company), how would you enter the following transaction into GnuCash?
- I make phone calls for my employer with my private phone, which costs me USD 30.- per month. I pay that with my personal money.
- At the end of the month, my employer pays me my salary plus USD 30.- for my phone expenses.
Create the following accounts in GnuCash
- Personal bank (assets account)
- Phone expenses (expenses account)
- Salary (income account)
Create the following entries.
1. Me paying my phone bill towards the end of the month. Personal bank 30 Phone expenses 30 2. Employer paying me at the end of the month Salary 2030 personal bank 2030 Phone expenses 30 Salary 30
I'm not sure whether that is correct. Should phone expenses perhaps be a debit asset account because that's money someone owes me and I will get sometime in the future?
- How to record expenses in GnuCash - Youtube