[GNC] Accounting Help - Credit Card transfer

[Chris Ledbetter]

Thank you - my issue is closed.

> On May 18, 2023, at 5:50 PM, Derek Atkins <derek at ihtfp.com> wrote:
> 
> Hi,
> 
> 
> 
> On Thu, May 18, 2023 5:38 pm, Chris Ledbetter via gnucash-user wrote:
>> Hi,
>> Currently using GnuCash 4.14.  I have Credit Card A with an opening
>> balance (transfer Equity:Opening Balances) and subsequent transactions.  I
>> set up Credit Card B.  I transfer the majority of the balance to Credit
>> Card B but still keep Credit Card A.  How do I set up Credit Card B
>> transactions?  In Credit Card A is move the balance as a transaction
>> (transfer Liabilities:Credit Card:Credit Card B) and in Credit Card B the
>> initial transaction is (transfer Liabilities:Credit Card:Credit Card A).
>> Is this the correct way to transfer?  Should Credit Card B have on
>> Equity:Opening Balance?
> 
> Equity:Opening Balance is only used when you start GnuCash.
> If you open an account after that, then no, you don't use Eq:O-B
> 
> What you suggest is correct.  If you are transferring a balance from A to
> B, then it's just a regular transaction from A to B.
> 
>> Please remember to CC this list on all your replies.
>> You can do this by using Reply-To-List or Reply-All.
> 
> -derek
> 
> -- 
>       Derek Atkins                 617-623-3745
>       derek at ihtfp.com             www.ihtfp.com
>       Computer and Internet Security Consultant
>