Recording utility bill credit/debit
sophie.bart at gmail.com
Thu Mar 2 21:00:43 EST 2006
I use Gnucash just to track personal finances (and have very basic
accounting skills, so please forgive any blatant accounting errors!). I
start a new file at the beginning of each year.
At the end of Dec 2004, I paid the water bill, which was a prepayment for
Jan - June 2005. My account balance at the end of 2004 and beginning of
2005 was $0.
In Jan 2005, I switched payment methods, and got a credit from the water
company, let's say for $200 (cr). Since then, the costs for water usage
have been deducted from the credit balance.
My question is: how do I record both the credit and the subsequent debits?
Should the credit balance be the opening balance for that account? And for
the subsequent debits, what accounts would the funds be moving between (I
know 1 would be the 'utility' account, but what should the other one be)?
any help would be much appreciated.
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