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faq: updates

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Simon Michael
2024-04-11 12:14:34 -10:00
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@@ -175,11 +175,21 @@ Some PTA tools allow flipping the minus signs, or showing debit and credit termi
### Which account type are loans ? ### Which account type are loans ?
If you are the lender, in your ledger it's an asset. Eg assets:loans:PERSON or assets:receivable:BORROWER. If you are the lender, in your ledger it's an asset. Eg `assets:loans:PERSON` or `assets:receivable:BORROWER`.
If you are the borrower, in your ledger it's a liability. Eg liabilities:debts:PERSON or liabilities:payable:LENDER. If you are the borrower, in your ledger it's a liability. Eg `liabilities:debts:PERSON` or `liabilities:payable:LENDER`.
If the loan is terminated without being fully repaid, eg by being forgiven, If the loan is terminated without being fully repaid, eg by being forgiven,
in your ledger the remaining amount becomes an expense (if you are the lender) or revenue (if you are the borrower). in your ledger the remaining amount becomes an expense (if you were the lender) or revenue (if you were the borrower).
- [[Borrowing and Lending]] - [[Borrowing and Lending]]
### Which account type are pre-paid commuter passes, credits at a business, etc ?
If you would like to track them in detail, record them as pre-paid assets.
Eg `assets:prepaid:rail-card` or `assets:prepaid:yoga-studio`.
You can record them either in your base currency, or with a dedicated commodity symbol, like `CLASSES`.
As you use them, transfer/convert them to expenses.
If you don't need such detail you can record their full amount as an expense on the purchase date, and not track them further.