How to split and/or set accounts?

[Subramanian Venkateswaran]

Hi,

Credit Card -> Liability Account
Vehicle -> Expense Account
Vehicle Taxes -> Expense Account

Let us assume you spent 1000 USD on your vehicles and 50 USD on taxes and
you have paid using your credit card.

You can directly go to your Credit Card Account and do the split in the
following way :

a) Increase Credit Card Account by 1050
b) Increase Expense Account -> Vehicle by 1000
c) Increase Expense -Account -> Tax by 50

Regards,
Subramanian V.
www.lifebytes.in


On Tue, Jul 23, 2013 at 7:01 AM, Niranjan Rao <nhrdls at gmail.com> wrote:

> Greetings,
>
> Renewed registration for two vehicles today. I used functionality of
> shopping cart on DMV's web site to combine both payments as one credit card
> charge.
>
> I have split the transaction so that two accounts for vehicles get it's
> proper split.
>
> Here is the problem I am facing.
>
> I want to see details of this transaction at 3 locations:
>
> 1. My credit card (My upcoming bill for credit card) - Total transaction
> 2. Vehicle (So that I know how much I am spending annually on maintenance
> and taxes)
> 3. Taxes
>
> Expense belongs to vehicle, however some part of the annual fee is tax
> deductible and I would like to keep track of taxes I am paying for future
> references.
>
> What is the best way to set up this kind of transaction. Currently split
> transaction shows under vehicle account as expense, but split shows the
> original transaction.
>
> Regards,
>
> Niranjan
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