[GNC] 2 Questions About Debit Cards

[Gary Holtum]

A debit card is an asset.

You transfer $ from Checking or Savings to Debit card then to Expense acct.

Gary

-----Original Message-----
From: gnucash-user [mailto:gnucash-user-bounces+diamondhranchqh=earthlink.net at gnucash.org] On Behalf Of Haim Roman
Sent: Wednesday, August 28, 2019 5:05 AM
To: Gnucash Users
Subject: [GNC] 2 Questions About Debit Cards

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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