How to input fee charged from loan account and taken from savings account

[Brendan Simon]

Hi Maf.  What you say makes sense.  I should be able to fix it now :)
Thanks, Brendan.

Maf. King wrote:
> On Sunday 29 Apr 2007, Brendan Simon wrote:
>
>   
>> My problem is how can I record this so my expense account for bank fees
>> is incremented ???
>> i.e. if the fee was for $10 and the $10 was transferred between my
>> savings account to my loan account, then I should be able to input that
>> transfer and have my savings account debited $10, my loan account
>> credited $10 and my Expense:Fees account increased by $10.
>>
>> I don't see how 3 amounts can be entered into a double entry accounting
>> system :-/  There must be some way to do this but my brain hurts and
>> can't figure it out :(
>>
>>     
>
> Hi Brendan,
>
> If I understand your description fully, then I think you need something like 
> the following:
>
> 29/April/2007:   
> Fee Charged 
> $10		Expenses:Fee
> 	$10	Liability:Loan
> (ie, the expense happens when the bank actually charge you)
>
> 30/April/2007:
> Fee Paid
> $10		Liability:loan
> 	$10	Checking
> (the expense doesn't happen when *you* pay it - it is an "internal" transfer  
> between your assets and your liabilities)
>
> You can combine this into a single 4-split transaction, if that helps you keep 
> track.  IANAA, by the way.
> HTH,
> Maf.
>
>   
>> Any suggestions ???
>> Thanks, Brendan.
>>     
>
>