Reconciling an account

[Adrien Monteleone]

> On Jun 12, 2017, at 12:10 PM, EngineInstitute <info at chinablueart.com> wrote:
> 
> David:
> 
> It is account is under the Liabilities and labeled as a Credit account.
> Note: it shows deposits on left and withdrawals on right. Is that because it
> was originally an income & expense account and I changed it?

You shouldn’t have deposits/withdrawals to a liability account. You should have either debits/credits or payments/charges.

> 
> Steps taken: 
> Down graded the program to 2.4.15 (there is no 2.6.15)
> No change.
> Opened a new test account to isolate the activity. It is a Credit Liability
> account, beginning 1/11/17
> Note: New account reflects: Increase on left and Decrease on right
> Input new data for month 1

Unless you are confusing ‘increase’ with ‘positive’ then it is still not correctly set as a credit type liability account.

Increase/Decrease are used as non-formal labels for type asset. An account of type Bank is an asset, but type Credit Card is a liability.

If it is a credit card it should be type credit card.

How did you create the account?

------------

Let’s start over - you never specified what this account is tracking.

Is this a credit card? A checking account? A savings account? Something else?

That makes a difference as to how it should be classified and how debits/credits affect the balance.

-Adrien


> Reassigned payment against the card from the check book. New problem it
> assigns the payment as an increase not decrease.
> 
> My problems seem to be increasing not decreasing.
> Should I delete GnuCash and download a fresh version of 2.4.15?
> 
> 
> 
> 
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