[GNC] 2 Questions About Debit Cards

[Haim Roman]

First of all, I want to thank everyone who has responded so far.  And those
might respond in the future.

*Gary*, did you mean that each use of a debit card involves *two
*transactions?
1st from checking/savings to debit card, and 2nd from debit card to
expense?

_______________________________________________________________
Howard (Haim) Roman -- haim.roman at gmail.com -- 052-8-592-599 -- חיים רומן
LinkedIn: https://www.linkedin.com/in/haimroman



On Wed, Aug 28, 2019 at 3:02 PM Gary Holtum <diamondhranchqh at earthlink.net>
wrote:

> 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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