Accounting for credit card purchases (revisited)

[Christopher Scott]

OK, I've gone back over the discussion and started implementing this. 
However, I don't think I'm doing it correctly, so if you guys could
help me with this, I would appreciate it.

Original problem:  I have a credit card that accumulated reward points.
 I want to maximize the use of the card, but I want to ensure that I
only spend money I have so that I can pay off the credit card each
month.

So, after reading Mr. Uhl's post, I started doing something similar to
this:

Credit card register:

Liabilities:Credit Card             CR 100
Expenses:Food                       DR 100
Assets:Checking (Reserved)          DR 100
Assets:Checking                     CR 100

This seems to square things away correctly; my main checking account
goes down (so I know how much money I REALLY have left), the credit
card balance goes up, and the expense categories appear as expected.

Now, when I pay my bill, I did something like

Assets:Checking (Reserved)          CR 500
Liabilities:Credit Card             DR 500

This balances my reserved account and the credit card account. 
However, the money is actually coming out of Assets:Checking.  This
throws my checking balance off.

So, my questions:
1.  If I'm doing this more-or-less right, how do I account for the
payment?
2.  If I set this up incorrectly, how should I amend my setup?

Thank you.

=====
-- 
Christopher Scott
wabe5 at yahoo.com


		
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