[GNC] Tracking UnPaid Bills

[R Losey]

On Sun, Mar 16, 2025 at 11:56 AM Michael or Penny Novack via gnucash-user <
gnucash-user at gnucash.org> wrote:

> On 3/16/2025 12:13 AM, R Losey wrote:
> > 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
>
> You COULD do it that way. Splits when paying the bill.
>
> But I suggested entering the expense/liability when the bill arrives
> with an effective date the due date of the bill. Then when you pay all
> or part of the bill, the transaction just liability/bank account. No
> split transactions involved. (well MAYBE no splits -- besides being
> billed for electricity might also have late fees and/or interest
> charges. You MIGHT just bundle those into electricity expense but also
> might instead might want to see how much you are being hit with late
> fees and interest on all your bills).
>
> Michael D Novack
>
> Your suggestion is even better and simpler (no splits); I was trying to
think of how to do it the way you suggest, but somehow confused myself and
couldn't figure out what the two transactions would look like. (I don't
know what I was thinking; it's perfectly obvious today).


-- 
_________________________________
Richard Losey
rlosey at gmail.com
Micah 6:8