Don't understand imbalance
Mike or Penny Novack
stepbystepfarm at mtdata.com
Fri Nov 21 11:12:25 EST 2008
>New to GnuCash. Coming over from Quickbooks. Running 2.2.6 under Mepis 8.0 beta 5. I have a split transaction where I paid a credit card bill. The first row has the total amount in the withdrawal column. The split amounts are listed in the deposit column. The split amounts equal the withdrawal amount. The next row below the splits in the withdrawal column there is the same amount that is in the withdrawal column on the first row. I have other split transactions but this is the only imbalance that shows up when I open the imbalance account. Do I need to delete this transaction and re-enter it or can I fix it to get rid of the imbalance. Just guessing that the imbalance is not a good thing.
>
>Thanks,
>Harold
>
>
Imbalance very bad, something is wrong.
But I can't understand what you are describing. Normally paying a credit
card bill would not be a "split". You have an account of type credit
card (a sub type of liability) and you are writing a check (decreasing
the account of type "checking", a sub type of asset) and decreasing the
liability (you are decreasing both because assets and liabilities are on
opposite sides of the ledger). Though I could see that happening if you
were writing one check to pay the balances of several credit card
accounts. Tell us what are these splits. If you are trying to split
expenses, wrong. Those you record as of the date you made the credit
card charges (you paid not in cash but by assuming a liability) and not
when you got around to paying the bill.
Michael
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