Query regarding Credit Card entry
sunfish62 at yahoo.com
Sat Oct 1 13:34:52 EDT 2016
Your payment will be from whatever asset account into your credit card account, e.g., $500 from Checking to CCard. You reconcile the checking account to the checking account statement, and the credit card account to the credit card statement. Technically, there is only one transaction, with two separate splits, and when you reconcile, you reconcile splits.
You should check out the Tutorial and Concepts Guide—especially chapter 7 on Credit card accounts, as well as the chapters under Getting Started. I think they will help you understand this better.
> On Oct 1, 2016, at 10:19 PM, mrfox99 via gnucash-user <gnucash-user at gnucash.org> wrote:
> Am hoping someone can just give some guidance regarding purchases made by
> credit card - if i enter each transaction paid for by credit card broken
> down individually by the expense they are for, then I do one payment to the
> card at the end of the month, I would enter this in Liabilities, credit
> card. Would this be correct? Then at the point of reconcilliation, can I
> reconcile both of these account transactions at the end of the month as
> Sorry, just getting started on GNU! Thanks for your patience and help.
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