[GNC] Tracking UnPaid Bills

[R Losey]

Hi. I'd just set such accounts up as sub-accounts under Liabilities. Using
your example (electricity)

1) Create an "Electricity" account under "Liabilites" (alternatively, you
could use the provider as the name of the account
2) Using your $120 bill as an example, when you pay $60 and owe them $60,
you'd create a three-way split
       Checking: decrease (credit) $60
       Expenses->Utilities->Electricity: increase (debit) $120
       Liabilities->Electricity: increase (credit) $60

This way, the utilities will show what you have used each month; the
liability account will show your remaining balance, and the checking shows
what you've paid.

On Sat, Mar 15, 2025 at 4:10 PM griffin <griffin at bernevyl.com> wrote:

> I think I'm starting to mess up my accounts.
>
> I use GnuCash for my home accounts. I know little/nothing about
> accounting practices, no-one will see my accounts, and they won't be
> audited.
>
> So far I have been paying bills by entering a transaction in the check
> register for the amount of the payment, and then using an expense
> account as the second account, Electricity for example.
>
> Chequing Register
> Date                 Description           Transfer
>      R    Deposit    Withdrawal     Balance
> 2025-02-02    PAY Electric & Gas - Direct Energy
> Expenses~CAD~House~Utilities~Direct Energy    N     60.00
> 138.96
>
> Electric Expense Register
> Date                Description         Transfer
> R    Expense    Rebate            Balance
> 2025-02-02    PAY Electric & Gas - Direct Energy
> Assets~CAD~ScotiaBank~Checking                          N 60.00
>                          157.39
>
> However, I am at a point in my life where I cannot always pay my bills
> in full, so I need to have a "balance owing" situation. I would also
> need to have a record of the value of the Electric bill. That is, I had
> an expense of $120 for the electric bill, but having paid $60, I still
> owe $60.
>
> Can I set things up as I am using GnuCashnow, so that after I've paid
> what I can there is still a debt showing, or do I have to change things
> and use liability accounts. If so, what would the process look like?
> Would it be like treating the electric bill as it were a credit card?
> How would I set that up?
>
> Thanks.
>
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-- 
_________________________________
Richard Losey
rlosey at gmail.com
Micah 6:8