budgeting

[Pete]

Wouldn't a credit card payment system use FIFO, that is
for the items most recently purchased, those are
the first ones paid off?  Similar to a mortgage where you
pay down interest first then tackle the principle?
----- Original Message ----- 
From: "Daniel Hagerty" <hag@linnaean.org>
To: "Dave Peticolas" <dave@krondo.com>
Cc: <gnucash-devel@gnucash.org>
Sent: Monday, October 01, 2001 2:46 PM
Subject: Re: budgeting


> > But isn't that completely arbitrary? I mean, unless you bought one
>  > single thing with your card, saying that "I paid off this but not
>  > that" just seems to be a mental fiction that doesn't serve any
>  > purpose.
> 
>     Your credit card company will disagree.  They've got to manage an
> ordering for partial payments, even if you don't.
> 
>     While "completely arbitrary", so is inventory management, tax lot
> accounting, and many other things that show up in accounting.
> Nonetheless, questions arise that need you to make an arbitrary
> decision to arrive at an answer.  You may need to record some data to
> support the arbitrary decision.
> 
>     If the answer is "don't ask that question", fine.  There may be
> interesting things that can be derived from this kind of data.  You
> can't ask if you don't have it.
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