Credit Card Installment

Youssef Ltaief ltai0001 at yahoo.com
Wed Oct 15 12:29:57 EDT 2008


create an account payable under liability for your credit card

when you purchase, transfer 50 bucks to that account payable
deduct the payment of 25 every month



----- Original Message ----
From: Douglas <douglashm at gmail.com>
To: warlord at mit.edu
Cc: gnucash-user at gnucash.org
Sent: Wednesday, October 15, 2008 9:14:42 AM
Subject: RE: Re: Credit Card Installment

txs Derik, 

but my question is about installment payment  
Situation A:  I bought a watch 50 bucks down using my Credit Card...so I transfer from Liability>CC>Visa to Expenses>Shops....and when my bill comes..I'll transfer from Asset>Saving to Liability>CC>Visa ....that's fine to me.

my question:  I bought a watch 50 bucks, to pay in 2 months (2x25.00)...
how do i handle this situation?? ...transfer $50.00 from Liability>CC>Visa to Expenses>Shops..when my bill comes I'll transfer $25.00 from Asset>Saving to Liability>CC>Visa ...and the next month I 'll transfer the last installment ($25.00 bucks )...??


>Hi,
>
>"Douglas H. M." writes:
>
>> Hi,
>>
>> How do I manage the credit card purchases paid in 12 months , for example?
>>
>> do I transfer the principal value (total) from Liability to Expense and 
>> every month I transfer a value (installment) from Saving to Liability?
>
>Yes.
>
>Every time you make a purchase it's CC -> Expense. Every time you
>make a payment it's Checking -> CC.
>
>> txs
>
>> Please remember to CC this list on all your replies.
>> You can do this by using Reply-To-List or Reply-All.
>
>-derek
>
>-- 
>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
>
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