[GNC] 2 Questions About Debit Cards

[Colin Law]

Is your debit card account a separate account at the bank, or is the
card just a way of taking money out of the chequeing acct?

Colin

On Wed, 28 Aug 2019 at 09:58, Haim Roman <haim.roman at gmail.com> wrote:
>
> Hi.  I'm new to GnuCash and to bookkeeping/accounting in general.  I have 2
> questions about debit cards.
>
> (1) I made my debit card account a Liability account, as I did with my
> credit card accounts.  In the GnuCash archives, someone wrote a debit card
> should be an Access account.  Is that correct?
>
> (2) I envisioned debit card transactions as single transactions with 3
> stages:  Checking to Debit Card to Expense (yes, I have different expense
> accounts).
> But I'm beginning to think that it should be 2 transactions: [a] Checking
> to Debit Card, [b]  Debit Card to Expense.
> The 1st deposits into the debit card account, and the 2nd withdraws from
> it.
> Is that correct?
>
> Thanks
> _______________________________________________________________
> Howard (Haim) Roman -- haim.roman at gmail.com -- 052-8-592-599 -- חיים רומן
> LinkedIn: https://www.linkedin.com/in/haimroman
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