Credit Balance on new Expense Account

[Derek Atkins]

Nah!  Just record it against Equity:Opening Balances

-derek

Quoting Tad Marko <tad at tadland.net>:

> Right, except that the actual over payment occured before the
> beginning of my accounting period (1/1/07) out of an account that has
> a beginning balance at that date. Maybe I can just enter the previous
> transaction on its actual date and then make a counter deposit to the
> affected checking account from the opening balance account?
>
> Tad
>
> On Fri, Jan 12, 2007 at 10:13:37AM -0500, Derek Atkins wrote:
>> You do this the exact same way as anything else.  Just effectively
>> "over pay" the expense.
>>
>> -derek
>>
>> Quoting Tad Marko <tad at tadland.net>:
>>
>> >Howdy!
>> >
>> >I've started this year getting all my finances into GnuCash, so I have
>> >all of my accounts starting at 1/1/2007. Whatever balances they have
>> >at that moment is the beginning balance I enter them with. This is
>> >working fine for credit card and bank accounts, but I have a telephone
>> >bill that I overpaid by quite a bit last year so on 1/1/2007, it has a
>> >substantial negative balance. I would like to track the new bills at
>> >they whittle down this balance, showing them paid against this balance
>> >until it is depleted. What is the best way to reflect this?  I'm
>> >thinking that I may have to turn this into an asset account, which I
>> >really don't want to do for this unusual circumstance.
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-- 
       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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