[GNC] 2 Questions About Debit Cards

[Robert Heller]

At Wed, 28 Aug 2019 15:39:43 +0300 Haim Roman <haim.roman at gmail.com> wrote:

> 
> Got it.  Seems obvious now ☺

If it is a straight checking account debit card AND you are not concerned 
about keeping separate track of checks, EFTs, and debit card use, you don't 
really need a separate GnuCash "account" for the debit card.  I put all of the 
checking account debit card uses in my checking account account, just without 
a check number.  Ditto for EFTs and other direct payments (eg online banking 
billpay or other sorts of transfers).  The only debit card I bother to have 
its own account for is my PayPal debit card, since it can hold a balance of 
its own.

> Thanks
> _______________________________________________________________
> 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 3:27 PM Gary Holtum <diamondhranchqh at earthlink.net>
> wrote:
> 
> > First you need to fund the debit card. $ has to come from somewhere. Then
> > you use the debit card to purchase many different things.
> >
> >
> >
> > One transaction to fund card, then many transactions to expense acct’s
> > when you use it.
> >
> >
> >
> > Similar to what you do with a credit card. Use it many times then make one
> > payment.
> >
> >
> >
> > Gary
> >
> >
> >
> > *From:* Haim Roman [mailto:haim.roman at gmail.com]
> > *Sent:* Wednesday, August 28, 2019 8:15 AM
> > *To:* Gary Holtum
> > *Cc:* Gnucash Users
> > *Subject:* Re: [GNC] 2 Questions About Debit Cards
> >
> >
> >
> > 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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>                                  

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