How do you set up an overdraft facility??

[Cam Ellison]

Mark Cogley wrote:
> Hi
> Im new to this double entry system, How do you set up an overdraft
> facility, is this possible, as I have one on my bank account.
>
> If possible how do you keep balance dynamic to include OD cutting in
> presumeably when going below 0.00
>
>   

Since my line of credit is actually part of the chequing account, both 
the credit union and I deal with them as one thing.  You might ask your 
bank or whatever how they will show it on the monthly statement.  If 
it's only one account (that would be my guess), don't set up an extra 
account.  As long as they're both done the same way, you will be able to 
reconcile - for me that's the most critical aspect.

HTH

Cam