Savings Account Entries

[Alice Lee]

The credit goes to Dividend Income, the debit goes to your savings account.

-----Original Message-----
From: gnucash-user
[mailto:gnucash-user-bounces+alee212007=satx.rr.com at gnucash.org] On Behalf
Of Mike or Penny Novack
Sent: Monday, March 2, 2015 2:43 PM
To: gnucash-user at gnucash.org
Subject: Re: Savings Account Entries


>>> OK, so I have a savings account and I am posting a dividend. When I 
>>> post it the software automatically splits the entry and then posts 
>>> it also as a debit.
>>> What is the correct way to handle this.
Go back and reread the introduction to double entry bookkeeping.

I assume that you are entering this transaction in the "interest income" 
account where it it a credit. It is  debit to your savings account. In
double entry bookkeeping, all transactions have debit(s) and credit(s) and
the sum total of each must match. If this has you confused it can only be
because not yet grasped the basic fundamentals.

This should be a simple (not split) transaction, one debit and one credit. A
"split" transaction will have multiple debits, multiple credits, or both
multiple.

Michael
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