Situation: I drove flat one of the tires of my Ford Fiesta last Monday night, and it was only today that I got the time to have it replaced. The price was PHP 2,500.00; 50% of that would be paid out my Isles Law Office (ILO) accounts, while 50% will be from my personal accounts. (Yes, I keep two books, one for my law office, and one for my personal accounts.)
Now, my ILO accounts has a Jacinto and Lirio Account and a Coin Stash Account. The Jacinto and Lirio Account actually refers to a Jacinto & Lirio leather checkbook gifted to me sometime back, but which I now use as a cash bills stash. The Coin Stash Account refers to a coin pouch. The PHP 1,250.00 share of the Isles Law Office for the PHP 2,500.00 to buy a new tire was distributed as follows:
- one PHP 1,000.00 bill from Jacinto & Lirio
- one PHP 200.00 bill from Jacinto & Lirio
- coins worth PHP 50.00 from the Coin Stash Account
To represent this in GnuCash, we open the Expenses:Auto:Repair and Maintenance Account, then create a new entry: “50% share wheel replacement (1,250.00)” (yes, that should have been “tire”, my bad). We then use the tab key to leave the account column blank, then type “1,250” under Expense.
This is the tricky part. Instead of pressing Enter, you should click on “Split” in the action buttons near the top of the screen, and click tab instead of Enter.
Until you are done with all the splits, you should click tab instead of Enter.
The final screen would look like this:
