how to setup a revolving credit facility account

[Derek Atkins]

Create your revolving credit account just like any other account
and just make transfers into and out of it like any other account.
E.g.:
    Liabilities:Credit  (L:C)

Salary:
   Income:Salary -> L:C

Pay for groceries:

   L:C -> Expenses:Groceries

-derek

Quoting David Latham <david at sitedesign.co.nz>:

> Dear list,
>
> I have just subscribed to this list,  So please bear with me.
>
> I was wondering how one sets up GNU Cash to deal with a revolving credit
> loan.  This loan should act as both a liability account AND a current
> checking account.  Any transactions to the checking account should be
> transferred to the appropriate income / expense account AS WELL as being
> inversely linked to the loan account.
>
> Basically any income immediately reduces the loan and any payments
> immediately increase the loan.
>
> At the same time I wish to use the features of the checking account and
> double entry to accounts such as salary or groceries in the normal
> manner.
>
> This would be a "deal breaker" for me.  IF I can get this working, I
> basically cant use gnu cash.   Which would be a shame because I like the
> software a lot.
>
> Thanks for your time,
>
> Dave Latham
>
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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
       warlord at MIT.EDU                        PGP key available