2 questions: Bank CD and line of credit
andrew at farwestbilliards.com
Wed Mar 22 22:49:53 EST 2006
On Wed, 22 Mar 2006 21:44:14 -0500
Bernard Fay <xi at videotron.ca> wrote:
> Hello Gnucash user,
> I have 2 questions for you.
> The first one is about the account "Bank CD" created by GNUCash. I would
> like to know what is it used for?
where did that come from? maybe its set-up by some wizard? I'd assume its for a bank certificate of deposit. If you don't have one, then you don't need the account.
> For the second question, I would like to know how I should setup a line
> of credit account.
A line of credit is a liability like any other loan. Set up a liability account. Any time you use the line of credit you are crediting the line of credit and debiting the expense account or asset account or whatever as appropriate. When you get the statement from the line of credit, simply enter the interest charges, reconcile like any other account etc.
> gnucash-user mailing list
> gnucash-user at gnucash.org
> Please remember to CC this list on all your replies.
> You can do this by using Reply-To-List or Reply-All.
-------------- next part --------------
A non-text attachment was scrubbed...
Name: not available
Size: 191 bytes
Desc: not available
Url : http://lists.gnucash.org/pipermail/gnucash-user/attachments/20060322/7bd7bbb0/attachment.bin
More information about the gnucash-user