[GNC] I need basic help

Wed Oct 25 14:27:57 EDT 2023

In the credit card account, you reference the bank account in the transfer column and debit the credit card by the amount of the payment.  That debits the credit card and credits the bank account.  If you are in the bank account, you credit the bank balance and reference the cc in the transfer account.  If you use the reconciliation process, in the transfer window after you click finish, it will automatically show the cc account and you just have to select the bank or other account to credit.

Thank You,

Gyle McCollam

Gyle McCollam

gmccollam at live.com<mailto:gmccollam at gyleshomes.com>           email

________________________________
From: gnucash-user <gnucash-user-bounces+gylemc=gmail.com at gnucash.org> on behalf of Edwin Booth via gnucash-user <gnucash-user at gnucash.org>
Sent: Wednesday, October 25, 2023 1:56 PM
To: Steve Butler <kg7je at arrl.net>
Cc: GnuCash Users <gnucash-user at gnucash.org>
Subject: Re: [GNC] I need basic help

Okay. Figured out how to add a new expense account. I’m on a MacBook and am figuring that out as well.
I’ve been entering credit card transactions from my newly downloaded CC statement. Expenses are being assigned to various expense accounts. I’m now at a credit card payment line. Back when I paid it, I just made a payment out of my bank checking account straight to the CC company. Now, how do I assign that transaction? It’s not a CC expense but it is an expense of some kind—just from a different place. My CC statement will go into my Liability Account, right? So does my payment to the CC company come out of Assets and into Liability? And, if so, how do I assign it on the CC Account transaction line?
Thanks All,
Edwin

Sent from Yahoo Mail for iPhone

On Wednesday, October 25, 2023, 12:01 PM, Edwin Booth <elybeedle at yahoo.com> wrote:

How do I add a new Expense Account? I’d like to assign transactions in my CC (liability) account to a few additional expense accounts. GnuCash said I could “add more later” but I cannot seem to do it right. Do I have to assign that account to some different top-level account?

Sent from Yahoo Mail for iPhone

On Thursday, October 19, 2023, 12:24 PM, Edwin Booth via gnucash-user <gnucash-user at gnucash.org> wrote:

Thank you. I’ll try it that way.

Sent from Yahoo Mail for iPhone

On Thursday, October 19, 2023, 11:26 AM, Steve Butler <kg7je at arrl.net> wrote:

On Wed, Oct 18, 2023, 23:04 Edwin Booth <elybeedle at yahoo.com> wrote:

Steve,
Thanks for getting back to me!
It seems that I need to first delete my newly downloaded file from GnuCash and re-import it but first assign all the

Yes, remove those transitions or restore to a pre-import backup.
transactions to various accounts. I have
This is done during the import process just after you open the file.  You should see a list of the transactions that will be loaded.  Pick each one and be sure it has the correct destination account.  That's how the import process is taught.
 gone through the process (I think) of creating a hierarchy of accounts (though I will surely want to add more expense accounts later).

Okay, I have deleted the AMEX credit card OFX account that I imported into GnuCash and have gone back to my Mac Downloads file. How do I now assign all those transactions to their proper accounts without first importing this OFX file into GnuCash? Doesn’t it have to be in GnuCash before it can even know what accounts are available?
It’s late now, so I’ll wait for an answer to this first question before going on.
But for some reason I saw this email in my Yahoo mail app rather than in my Gmail app. Please respond to this by sending out my Gmail account. Elybeedle at gnail.com.
Thanks,
Edwin

Sent from Yahoo Mail for iPhone

On Wednesday, October 18, 2023, 2:05 PM, Stephen M. Butler <kg7je at arrl.net> wrote:

Edwin,

I routinely download my CC transactions using OFX.  I think you missed a
very important step.

It sounds like you did tie this OFX file to your CC Liability Account.
That will be remembered for all future imports from this CC.

It also sounds like you may not have set up all the various expense
accounts (Groceries, Fuel, Hardware, etc).  Those need to be setup as
accounts under the Expense top-level account.

Then, during the import process, after you pick the file but before
doing the actual import step you will see a list of all the
transactions.  During this first import none of them will show the
corresponding expense account.  You will need to click on each line and
indicate to which account that expense should be assigned.  In some
cases you will have a payment so up.  For the first time you will need
to assign this to your Asset/Checking account.

This process of assigning accounts to each transaction will teach the
import process how to automatically assign them in the future. As the
importer learns each transaction (based on the description), it will
begin to automatically assign the proper accounts. Occasionally you may
need to correct the account assignment or it may see a new description
and not know leaving it assigned to the Invalid Account.  This is your
clue to click on that line (perhaps double click) and make the
appropriate assignment.

Hopefully this helps you on future imports.

--Steve

Stephen M Butler
Stephen.M.Butler51 at gmail.com
kg7je at arrl.net
253-350-0166
-------------------------------------------
GnuPG Fingerprint:  8A25 9726 D439 758D D846 E5D4 282A 5477 0385 81D8

On 10/18/23 11:09, Edwin Booth wrote:
> Hi. New to this. I just downloaded an OFX file for a credit card I have. I
> imported it into my “Unsaved Book.” That worked. It is now on the Accounts
> Page with an amount under the “Total” column. But there is also a line that
> says “Imbalance-USD” with the same same amount under Total. I understand (I
> think) that that Imbalance is due to the fact that I have no other account
> in there and so there is nothing to balance my CC account with.
>
> So, I obviously need to enter some new accounts. I haven’t paid off all of
> that CC account, but I have paid some of it. The unpaid portion would be
> under “Liability” I assume, and the paid part under “Expense.”
>
> Not sure what to do next. I’m running GnuCash on a MacBook Pro, which I’m
> also pretty new at.
>
> Thanks,
>
> Edwin
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