how to view total for expenses subaccount

Mike or Penny Novack stepbystepfarm at mtdata.com
Tue Oct 28 08:47:33 EDT 2008


Girard Aquino wrote:

>Hi. I need help trying to produce a report for our monthly expenses for 
>one of the Expenses subaccounts. I don't have any problems with 
>transactions I pay for using my debit/checking account because this is 
>easily tracked by Reports>Income&Expense>Cash Flow. My problem is with 
>transactions i pay for using my credit card. When iIdownload my CC 
>transaction history they all go to liabilities>CC, and I transfer the CC 
>transactions to their respective Expenses subaccount such as Groceries, 
>Dining, Auto>Gas, etc.... 
>
Correct --- you "book" the expense as the liability is assumed (date of 
the credit card transaction)

>Then when I pay for the CC bill for the month, 
>I use my checking/debit which lowers my liabilities. But then, I lose 
>track of how much of the liability in CC went to what Expenses 
>subaccount.
>
Why? Can't see how you lose anything here. You are paying off part (or 
all) of the liability (credit card debt). At this time there is no 
connect to how/why the liability came into existence.

> Or one could say that I lose track of how much of the CC 
>payment went to what Expenses subaccount. I was trying to view how much 
>we were spending on groceries for the month, but realized the report I 
>produced with Reports>Income&Expense>Cash Flow was inaccurate because of 
>this. Any tips on how to go about this? Thank you.
>  
>
Again, unsure of what you perceive as the problem. Money is considered 
"fungible" (freely exchangeable). The amount of expense you have for 
"groceries" for the month has nothing to do with whether you paid for 
these groceries with cash out of your pocket, a check, by assuming 
credit card debt, etc. If you actually are losing transactions, you need 
to try to explain to us where that appears to be happening.

Michael

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There is no possibility of social justice on a dead planet except the equality of the grave.




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