how to record an opening debit balance in a credit account

[jay]

I am recreating the CC account for 2010.  For January I entered the positive
opening balance and the one transaction successfully.  My CC register looks
like this:

1) Jan statement - the reduced positive balance amount shows up in red and
in brackets (similar to the negative sign on the CC statement) - so I assume
this is correct.  I read that I can change this in Preferences if I want.

2) Since I didn't make any payment from my Checking account, the Jan CC
record is not followed by any payment record from Assets:Checking.  I carry
forward a positive balance up until the May statement.

3) Now in the Feb statement, I have previous positive Balance from Jan
statement, and a few purchases.  In the March statement, I have previous
positive Balance from Feb statement, few purchases and 2 refunds from
returns.  For April, same as March.  In May I start with a previous positive
Balance, have purchases & returns, and finally owe the CC company.

4) Does the first line for Feb have to be the previous positive Balance
carried over from Jan statement or the New Balance on the Feb statement?  I
am thinking it should be the New Balance.  I understand in general the order
of entry should be: outstanding balance, purchases, then refunds.

--
View this message in context: http://gnucash.1415818.n4.nabble.com/how-to-record-an-opening-debit-balance-in-a-credit-account-tp3390624p3391061.html
Sent from the GnuCash - User mailing list archive at Nabble.com.