How to record partial payments for a bill

Jodye Yates facinorous at gmail.com
Mon Jun 18 02:05:39 EDT 2007


Hello

I am just getting started with gnucash so please forgive me if this is
an obvious newbie question. I am wondering how to enter my auto
insurance bill. For example. Say I have a bill of 500$. I pay it in
monthly installments and every month I am charged 5$ in a service
charge. How do I enter this information? So far I have an expense
called expense:auto:insurance and I transfer money from my bank
account to there. That is fine. But I am not sure how to record the
amount that I owe to the insurance bill as well as the monthly
charges. Should it be an account payable? And then how do I transfer
money to that? From the bank account? So the auto insurance is no
longer an expense?

Thanks in advance.


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