Why does it...

[Reinke Bonte]

Hello Karl,

you seem to have problems with the double entry bookkeeping. I found it
very helpful to read the online manual, it explains these accounting
concepts very well. Once I got used to double entry accounting, I found
it very helpful for detecting entry errors and producing meaningful
reports. An additional benefit of understanding double entry accounting
for you could be, that you can trust your two "college trained
accountants" because you would have a better idea of what they are
doing.

> 	Having a problem with the Account "credit-card". It's an
> 	official
> Credit card account but when I enter an expense the darn thing wants
> me to tranfer it somewhere. I guess I transfer it to Expense but it's
> not at all clear to me. But I will be transfering the total for this
> month from the Bank to credit-card and that should zero it out again.

I don't quite understand what you are are doing, but this is how I do
it:

When I buy a shirt with my credit card, I credit that amount on my
"Liabilities:Credit Card" account and debit the same amount on my
"Expenses:Clothing" account. At month's end my credit card company
withdraws the total amount I spent this month with my credit card from
my bank account. At that time I also make a transaction in GNUcash: I
debit this amount on my "Liabilities:Credit Card" account and credit my
"Assets:Bank" account.

> 
> 	My asset account shows since I transfered it to the bank a
> 	negative
> number. Is that correct?

I don't think that this is correct. Your bank account should be under
the asset account in the account tree, because it is an asset account.
So your asset account shouldn't change when you transfer money from it
to your bank account.

Maybe, I have misunderstood your questions, I recommend you to read the
manual, it makes things much clearer.


Reinke



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