[GNC] Split transaction

[David Carlson]

Heidi,

One day last month you went to the grocery store and bought $200.00 worth
of groceries, paying for them with your credit card.  Another day you went
to the furniture store and bought two chairs, paying with your credit
card.  Those two separate transactions would be recorded between your
credit card liability account and your grocery expense account and your
furniture expense account in transactions dated on the days that you made
those purchases.  Then at the end of the month you paid your credit card
bill from your bank account.  That was a different transaction, but it was
simply a payment to the credit card company.

Just keep each transaction separate in Gnucash, like you did in real life.
Then those other suggestions will make more sense.



On Sat, Jan 22, 2022 at 4:56 AM Liz <edodd at billiau.net> wrote:

> On Fri, 21 Jan 2022 21:16:35 -0800
> "Stephen M. Butler" <Stephen.M.Butler51 at gmail.com> wrote:
>
> > Heidi,
> >
> > Also, this sounds like a credit card being used for several purchases
> > throughout the month.  In which case it is better to record the
> > individual purchases as they occur.  Or, download the individual
> > lines to import.
> >
> > In that case, you will have a Liability:Credit Card:nameofcc account
> > against which all the transactions will post with the other side of
> > the post (the other split) being the relevant expense account.
> >
> > When you pay the credit card off, you record the payment against the
> > checking account on the one side and the Liability account on the
> > other.
> >
> > Otherwise, if you have a lot of purchases throughout the month there
> > would be one humongous transaction with gobs of splits and you would
> > lose the date for each purchase.
>
> This is the best way to proceed, once you have followed David Cousen's
> suggestion and read the tutorial and concepts guide.
>
> Liz
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-- 
David Carlson