[GNC] Question about transfers

[Derek Atkins]

Hi,

On Fri, April 22, 2022 5:37 pm, Brad wrote:
> Hello,
> I am new to GnuCash and to this list.  I am a long, long time Quicken
> user who has finally gotten fed up with Quicken and I am in the midst
> of converting to GnuCash.
>
> My question is regarding transfer of funds from one account to
> another.  I want to transfer funds from one account to another, but I
> also want to track the transfer amount against an expense account so I
> can keep track separately of how much I have transferred for different
> reasons.

>From a GAAP point of view, that does not make sense.  If you have an
account at Bank of America and another account at Truist, if you transfer
$100 from BoA to T it's not tied to any expense at all.

You could put a description in the transfer that says "For Groceries" if
you want, but there is no way to tie that transfer explicitly to the
Expenses:Groceries account.

> Anyone have any ideas?  I'm guessing it involves a split transaction
> of some sort, but I can't figure out what the pieces of the split look
> like.

What is actual transaction that you're trying to model?  Explain the
transaction (or series of transactions, but in that case make sure you
separate them) you have here.

But...  if you have money entering an account and then exiting an account,
and you want to mark that entry and exit, those are, necessarily, two
transactions.

> Thanks in advance for your help.
> Brad

> Please remember to CC this list on all your replies.
> You can do this by using Reply-To-List or Reply-All.

-derek

PS: You COULD make a split transaction that, say, credits BoA, then both
debits and credits Truist, and then debits your Expense.   But that's
extremely ugly.

-- 
       Derek Atkins                 617-623-3745
       derek at ihtfp.com             www.ihtfp.com
       Computer and Internet Security Consultant