What's the best way to model "in-flight" transactions?

[replicon]

Hey all,

I've been using/loving GNUCash for almost a year now, and one thing I'm sure
I'm doing wrong is how I'm showing credit card payments.

For paying credit card bills, I just use my bank's bill pay. The bank is
different from the credit card provider, so there's some "in-flight" time
for that money. The day the withdrawal shows up on my checking account is
not the same as the day the payment shows up when I login to my credit card
provider and check transactions there.

Right now, in GNUCash, I just do a transaction from checking account to
credit card, and by convention, always adjust the time to reflect checking
account, but I wonder if there's a more correct way to do it.

The best I can think of is to have a separate account for "in-flight"
transactions between establishments, and turn the credit card payment into
two transactions that go through this account. Is that the best way to do
it? If so, what account type would that be? Would it be an asset, because in
a way, it's like I'm loaning money to some imaginary entity for a while,
which it will repay to my other account a day or two later? :)

Thanks!



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