Setup my finance accounts

[Manfred Usselmann]

Hi,

On Thu, 17 Feb 2011 22:54:33 +0000
falou zaynoun <fzaynoun at hotmail.com> wrote:

> I am new to accounting and Gnucash, i read some of the docs here and
> there and i noticed that this application is simple to use in
> general. But i still have some questions, i hope you people can help
> me solve them. I am using Gnucash 2.4.
> 
> Basically i am working abroad, i get money in the country currency, i
> spend a portion of this money here for living and i send the rest to
> my home country. I have a credit card here. Say i send money using
> western union, how to describe this in gnucash ? (accounts involved,
> Fee) Say i sent money using a delayed transfer, where the fee is
> lower, but the money will take time to reach the other side, is there
> a "clean way" to show it.

What you can do is to create a 'Transit' account under Assets:Bank.
Then you would enter two transactions:

Date money sent:     Bank A -> Transit
Date money received: Transit -> Bank B

This way you can see how much money is still on the way and your
GnuCash accounts will both match your bank statements.

Regards,
Manfred

-- 
Manfred Usselmann <usselmann.m at icg-online.de>