How to split and/or set accounts?

[David Carlson]

On Tuesday, 7/23/2013 4:03 AM, Subramanian Venkateswaran wrote:
> Hi,
>
> Credit Card -> Liability Account
> Vehicle -> Expense Account
> Vehicle Taxes -> Expense Account
>
> Let us assume you spent 1000 USD on your vehicles and 50 USD on taxes and
> you have paid using your credit card.
>
> You can directly go to your Credit Card Account and do the split in the
> following way :
>
> a) Increase Credit Card Account by 1050
> b) Increase Expense Account -> Vehicle by 1000
> c) Increase Expense -Account -> Tax by 50
>
> Regards,
> Subramanian V.
> www.lifebytes.in
>
>
> On Tue, Jul 23, 2013 at 7:01 AM, Niranjan Rao <nhrdls at gmail.com> wrote:
>
>> Greetings,
>>
>> Renewed registration for two vehicles today. I used functionality of
>> shopping cart on DMV's web site to combine both payments as one credit card
>> charge.
>>
>> I have split the transaction so that two accounts for vehicles get it's
>> proper split.
>>
>> Here is the problem I am facing.
>>
>> I want to see details of this transaction at 3 locations:
>>
>> 1. My credit card (My upcoming bill for credit card) - Total transaction
>> 2. Vehicle (So that I know how much I am spending annually on maintenance
>> and taxes)
>> 3. Taxes
>>
>> Expense belongs to vehicle, however some part of the annual fee is tax
>> deductible and I would like to keep track of taxes I am paying for future
>> references.
>>
>> What is the best way to set up this kind of transaction. Currently split
>> transaction shows under vehicle account as expense, but split shows the
>> original transaction.
>>
>> Regards,
>>
>> Niranjan
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Then to see these expenses separated for each vehicle, create 'child'
accounts in each expense account for each vehicle.

David C