[GNC] Problem with Splits

Michael or Penny Novack stepbystepfarm at comcast.net
Tue Feb 12 15:40:21 EST 2019


On 2/12/2019 2:49 PM, Christian Kluge wrote:

Sorry, I made the assumption that since talking about "splits" you 
already knew about entering "split transactions. Your example below, 
showing it as multiple transactions, indicates otherwise. So taking your 
example (a $100 expense paid for by $50 cash and a $50 loan ......

As I said, start with the UNSPLIT side. So I would enter from the 
expense account, date, description, amount, and then instead of entering 
the account of the other side (can't, more than one, that's what "split" 
means) I would click on "split" above.

That brings up a different view for THAT transaction. There would be a 
line for the debit (the expense account) with $100 and below that a line 
also with $100 but "Imbalance" since account not yet specified. I would 
change the amount on that line to $50 and enter cash for the account and 
hit enter. That brings up a new line below with the new balance still 
unspecified, still $50 and Imbalance. I specify the account "loan" and 
hit enter, now no balance remaining, and enter again restores the  view 
<< you no longer see the split details in that view >>

Advice --- do not shortcut and hit that last enter twice quickly. You 
want to see/confirm that there was no balance for Imbalance remaining.

THAT describes a "one sided split" transaction. Do not attempt a 
transaction split on both sides until/unless you are very experienced 
entering splits << entering two sided often can mean first "lying" about 
an amount and correcting that only after the other side of the 
transaction has been done >>

Michael D Novack


> Am 11.02.2019 um 22:15 schrieb Michael or Penny Novack:
>> On 2/11/2019 2:40 PM, Christian Kluge wrote:
>>> Hi,
>>>
>>> my general rule of thumb is to always entering from an asset or
>>> liability account.
>>>
>>   The proper "general rule" for a (one side) split transaction is to
>> enter it from the side (debit or credit) that is NOT being split. That
>> this is most often either and asset or a liability account just the
>> consequence of that most often the side of the transaction not being split.
>>
>> Starting with an account on the side of the transaction being split will
>> make entry almost as difficult as entering a transaction that is split
>> on both sides.
>>
>> You need an example? Say you are paying for your share of an expense X
>> and the person you are sharing with allows you to pay part in cash and
>> owe the rest. You would begin this split from the expense account (the
>> credit side being split  between cash (asset) and loan (liability)
>>
> This I would enter as either three transactions:
>
> By expense to liabilities $100
> By liabities to cash $50
> By liabilities to loan $50
>
> or if I assume that the loan exists even before I pay in cash:
>
> By expense to loan $100
> By loan to cash $50
>
> Also who wants to change accounts all the time.
>
> If I recording cash transactions I don’t go into revenue or expense
> accounts but stick with cash.
>
> I my examples above several expense/liability transactions would occur
> before I even would post the cash transaction.
>
> Kind regards
>
> Christian Kluge
>
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