2 questions: Bank CD and line of credit

[Derek Atkins]

Bernard Fay <bfay at deepcosmos.ca> writes:

> Hello Gnucash user,
>
> I have 2 questions for you.
>
> The first one is about the account "Bank CD" created by GNUCash. I would
> like to know what is it used for?

It's if you have a Certificate of Deposit.

> For the second question, I would like to know how I should setup a line
> of credit account.

It's a liability.  Treat it like a credit card.  Every time you write
a check against the LoC, it's a transaction from the LoC account to
whatever expense you wrote the check.  Every time you pay down the LoC
it's the reverse.

> Thanks
> Bern

-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
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