I recently split a bill with a friend. I paid the entire bill with my credit card and he gave me cash. I now have the entire bill as a credit card charge, but no evidence of the cash he gave me. How should I handle this type of split?
I created a manual ‘Cash’ account and I manually add transactions every time I spend or receive cash.
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@gms , When you split, code your friend’s portion to a transfer account. When you say split I assume that means P&L. The others are tracking cash manually on the balance sheet which might constitute overkill to some. To each their own. Cheers, Blake