Credit card/overdraft credit limit & available funds?
prl
prl at ozemail.com.au
Sun Aug 26 20:59:26 EDT 2012
I disagree about my motivation. I used the term "available funds" quite
deliberately. My bank labels that information as "available balance" in
my online banking access. I'm not sure why you seem to think that
because I want to have GnuCash tell me how much more I can draw on a
line of credit that I'm confusing liabilities and assets. I can assure
you that my credit card accounts are set up as liabilities in GnuCash.
All I want is the ability for GnuCash to tell me the difference between
the balance in my credit card account and some fixed limit. I can't see
how that suggests confusion about what assets and liabilities are.
Using a tracking account as you suggest is probably a more flexible way
of doing what I want than what I had in mind for it.
On 27/08/12 00:07, David Gillam wrote:
> It seems to me that you're attempting to use a credit card as an asset account, when it's really a liability account. Just because you have X amount of available credit doesn't mean you can call that X amount of additional assets.
>
> On the other hand, tracking how much credit remains available is a GoodThing. Unfortunately, I don't believe GnuCash has a "tracking" account type that can act in the way you want it--doesn't count as as an expense, liability, or asset, and doesn't affect the balancing of register entries.
>
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