"It depends."

Generally it is good to have debt in some form of Money Liability Account.
Depending on the type of debt, you can use a Loan Account which supports
fixed payments, fixed interest rate, and fixed term. (Car loans and
mortgages generally fit this model.) Loan accounts know about payment
schedules and compute interest amounts and so forth. But they aren't at all
good about letting you move the original loan amount to another account. See
http://umpmfaq.info/faqdb.php?q=86 for some more information on how to get
around this limitation.

If you use a general liability account (best when the debt is less
structured) setup the account with $0 beginning balance, transfer the loan
amount form the liability account to, say, your checking account. When you
pay it back, use a Transfer from, say, the checking account back to the
liability account. When the balance of the liability account gets back to
$0, close the liability account. You can schedule the transfer as a
scheduled bill. You can set the number of payments to the number necessary
to pay the debt back.

Refunds? See http://umpmfaq.info/faqdb.php?q=179 for the way many of us use.

"Koistya `Navin" <navin[at]php.net> wrote in message
news:eaDC2QelFHA.1948[at]TK2MSFTNGP12.phx.gbl...
- quote -

Hallo People



Can anybody advise where should I reflect that data? For example, I borrow
some money.. Should I place that sum into INCOME category grope? If yes,
which category? Also if I'm paying back that sum or part of it, where should
I represent it? Whether I'll be able to track that info on the calendar to
see when I borrowed funds and timelines for paying it back?



Regards,

Koistya `Navin

http://navin.biz