Lending Money

[Brandon A. Olivares]

Having trouble finding this exact situation in any online documentation.

My mother borrowed some money from me and will be paying me back over the next few months. I want to keep track in hledger exactly what she borrows and what she's paid back.

I think a loan being given is an asset, right? But I'm not sure how to set up the transaction. Is it just a transfer from Assets:Bank to Assets:Loan? How about when she pays a portion back?

Thanks,
Brandon

[Dániel Fancsali]

Hello,

Yes, that's another form of your assets; it's just it's not immediately accessible to you...

Traditionally you'd do something like this:

2022-07-01 Lending a grand to Mom

Assets:Accounts Receivable:Loan to Mom  $1000

Assets:Current:Bank Account

2022-08-01 Mom repaying loan

Assets:Current:Bank Account  $250

Assets:Accounts Receivable:Loan to Mom

... and another 3 like that.

After the fourth the balance of Assets:Accounts Receivable:Loan to Mom should be 0; so probably the last entry looks something  like this:

2022-08-01 Mom repaying loan

Assets:Current:Bank Account  $250

Assets:Accounts Receivable:Loan to Mom  =$0

Regards,

Dan

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[Francesco Ariis]

Hello Brandon,

Il 01 luglio 2022 alle 08:18 Brandon A. Olivares ha scritto:
> Having trouble finding this exact situation in any online documentation.
>
> My mother borrowed some money from me and will be paying me back over the next few months. I want to keep track in hledger exactly what she borrows and what she's paid back.

First thing when I write a transaction is to start from “concrete”
stuff, so unmistakable “money movements”.
In this case, when you lend money, your wallet getting is slimmer.

01/07/2022 Loan to mum
Assets:Cash EUR 100
???

> I think a loan being given is an asset, right? But I'm not sure how to set up the transaction. Is it just a transfer from Assets:Bank to Assets:Loan? How about when she pays a portion back?

Indeed you are correct, the “I Owe You” is an Asset

01/07/2022 Loan to mum
Assets:Cash EUR -100
Assets:Loans:Mum
; Adding the name of the person (technically:
; “Auxiliary”) will make it easier to know at
; a given point which repayments have been made
; and how much she still owes you.

Now say in a month your mum pays back 10€

01/09/2022 Repayment
Assets:Cash EUR 10 ; again we start with cash
Assets:Loans:Mum

And `hledger` reports will display `90 Eur` in `Assets:Loans:Mum`.
There is some additional consideration in case of paying back interests,
but this is not the case, right?
Let us know if this helped and happy hledgering
—F