[GNC] credit account negative balance increases with payment

[David Carlson]

Taking into consideration the advice given by others here, now try changing
Edit>Preferences>Accounts>Reverse Balanced Accounts to None from Credit.
This will change the running balance in your credit card accounts to the
red color that you prefer, but it will not change the text color, signs or
columns of the amounts in the transactions.



On Sat, Mar 4, 2023 at 4:14 PM Michael or Penny Novack <
stepbystepfarm at comcast.net> wrote:

>
>
> > I would take Stan's advice and change, at least temporarily, to the
> formal
> > accounting labels. The logic implemented in GnuCash to keep to the
> accounting
> > formalism is most clearly expressed in that format.
>
> Yes --- those new to double entry bookkeeping can be easily confused by
> the supposedly user friendly column titles. Gnucash is showing ledger
> accounts in three column format (pretty much a 20th Century change form
> the older two column format with no running balance kept. The three
> columns are debit, credit, and running balance.
>
> > A purchase made via  a Credit card account (a liability)  will have a an
> entry
> > with a split crediting that account with the other split a debit entry
> to an
>
> You can confuse folks new to double entry bookkeeping when you use a
> term like "split" that way. All transactions have AT LEAST two accounts
> affected, a debit and a credit. Reserve "split" for when there are more
> than two so either the debit side, the credit side, or both are split
> into more than one account on that side of the transaction.
>
> OK, back to the original problem. The transaction represented by a
> payment on a credit card would be a debit to the credit card account and
> a credit to the account from which the payment was made. That would
> USUALLY be a checking account, but notice that I am not assuming that <<
> the transaction MIGHT be a "balance transfer" between two credit cards >>
>
> I strongly suggest you choose options like "show as negative" only once
> you are experienced with double entry bookkeeping. Double entry
> bookkeeping evolved before European math accepted negative numbers. The
> "senses" are debit and credit (not positive and negative) and that's not
> the same. Instead, the different fundamental account types have either a
> debit or credit natural balance. If an account whose natural balance is
> debit has a credit balance that's like a negative but note that the
> reverse is true. For an account whose natural balance is credit, a debit
> balance would be like negative. In other words, can;t associate debit
> with plus and credit with minus.
>
> Michael D Novack
>
>
>
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-- 
David Carlson