Basic Accounting: Short Term vs. Long Term Expenses

[David Harrison]

On 9/27/05, Greg Novak <novak at ucolick.org> wrote:
>
> > Do you have a liability account set up for your credit card? When you
> incur
> > and expense on the credit card you enter it as:
> >
> > Liabilities:Credit Card 100 (Cr)
> > Expenses: Whatever 100 (Dr)
>
> Thanks for the response.
>
> Yes, of course I have an account set up for the credit card. The problem
> here is that I want there to be, at some point, a _single_ number that I
> can look at and say "I'm $150 ahead for the month." Doing the usual thing
> (as you described it) leaves me in a situation where I can _think_ that
> I'm $150 ahead for the month b/c I've got the extra money in my checking
> account, but I'm actually down $150 b/c there's $300 on the credit card.



Have you tried looking at the Cash Flow report? It sounds like that's what
you're after.

--
David Harrison, BAccS, CGA
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