Splitting a credit card payment

[Derek Atkins]

Hi,

donles <donles at gmail.com> writes:

>    I don't itemize credit card payments.  The funds are drawn from my
> checking account which is reconciled monthly.  The payment is credited to
> Liabilities:Credit Card and I do not reconcile the category.
>    I started to pay my monthly cable bill by credit card and now I want to
> go back a few months and edit the credit card payment to account for the
> cable bill.  I have an expense category Expense:Utilities:Cable.
>    I can't visualize how to go about doing this.  Can anyone suggest what to
> do?

Your CC is a Liability account.  There are two sets of transactions, the
"Charge" transactions (which is when your CC is charged) and the payment
transaction.  Whenever you charge your CC that'a when you add a charge
transaction, where you credit the CC and debit your expense, e.g.

  CC -> Expenses:Groceries
or 
  CC -> Expenses:Utilities:Cable

When you PAY the credit card you enter the transaction as a payment,
where you credit your Asset/Bank account and debit the CC account:

  Bank -> CC

In no cases do you need to split any transactions.  You may choose to
split some of the charge transactions if, for example, you go to a store
and buy different things.  E.g., you may got to a Super Target and buy
clothing, home good, and groceries, so you may want to split that out as
part of that charge transaction.

In no case should you find yourself needing to split your payment
transactions.

I hope this helps,

> Thanks

> Please remember to CC this list on all your replies.
> You can do this by using Reply-To-List or Reply-All.

-derek

-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
       warlord at MIT.EDU                        PGP key available