Split transactions

[John Layman]

I'm a cutover from MS Money, too.  In Money, there were two ways you could
handle credit cards, and I used the same approach you apparently did --
itemizing the detail in a split transaction once I received the bill.  This
is a simple way to handle credit cards, but it has the downside of leaving
expenses unrecorded until well after they are incurred.  In GNUCash, I've
used the second approach (which you could also use in Money) of setting up
individual accounts for each credit card.  I enter the transactions
throughout the course of the month, and then reconcile the account when I
receive the bill.  [You reconcile it just as you would a bank statement.]
During reconciliation, I commonly find that I've lost receipts or failed to
record Web transactions and so forth.  Fortunately, GNUCash handles changes
in the register during reconciliation in a natural and flexible way, and it
also provides something akin to the running total of amounts entered you
mention.  One other benefit has been that unreconciled transactions are
highlighted by their status, so it's fairly easy to identify and correct
charges you may have entered  for the wrong card.

-----Original Message-----
From: gnucash-user-bounces at gnucash.org
[mailto:gnucash-user-bounces at gnucash.org] On Behalf Of PeterS
Sent: Thursday, August 12, 2010 1:08 PM
To: gnucash-user at gnucash.org
Subject: Split transactions


Again, I've been spoiled by MS Money and I'm used to breaking down my credit
card payments by transaction(s) into the corresponding expense category.  MS
Money would show a running total while I input the amounts.  The individual
expenses would then be reflected in the expense reports.
--
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