Just to make this thread more interesting, here in the United States it is possible to purchase rechargeable 'gift cards' that can be used like credit cards to pay for things, and recharged at a bank or currency exchange to be used again. I think these are used by people who do not want to have a bank account, but need a way to pay with 'plastic'. As in some other countries, there are now retail businesses appearing that do not accept cash.
I would liken such a card to be an asset, David Carlson On Wed, Aug 28, 2019 at 8:57 AM Stephen M. Butler <[email protected]> wrote: > Haim, > > I'm in the US and here the debit card directly debits the checking > (asset) account. From your description it appears that your debit card > acts more like a credit card but with automatic payments from checking > on some regular basis (perhaps daily). > > Can you download the transactions from the debit account? In that case, > I'd setup the debit account as a liability (just my preference -- might > depend on how the bank uses the debit/credit columns in the download). > This should catch both your charges and your payments . > > You would have one transaction per charge from debit to expenses. Plus > one transaction per payment from checking to debit. > > Depending on how you bank auto pays the debit card, that might end up > being two transactions per use of the debit card. However, I thought > you mentioned that the bank sometimes combines multiple charges into a > single payment. > > --Steve > > > On 8/28/19 5:14 AM, Haim Roman wrote: > > First of all, I want to thank everyone who has responded so far. And > those > > might respond in the future. > > > > *Gary*, did you mean that each use of a debit card involves *two > > *transactions? > > 1st from checking/savings to debit card, and 2nd from debit card to > > expense? > > > > _______________________________________________________________ > > Howard (Haim) Roman -- [email protected] -- 052-8-592-599 -- חיים > רומן > > LinkedIn: https://www.linkedin.com/in/haimroman > > > > > > > > On Wed, Aug 28, 2019 at 3:02 PM Gary Holtum < > [email protected]> > > wrote: > > > >> A debit card is an asset. > >> > >> You transfer $ from Checking or Savings to Debit card then to Expense > acct. > >> > >> Gary > >> > >> -----Original Message----- > >> From: gnucash-user [mailto:gnucash-user-bounces+diamondhranchqh= > >> [email protected]] On Behalf Of Haim Roman > >> Sent: Wednesday, August 28, 2019 5:05 AM > >> To: Gnucash Users > >> Subject: [GNC] 2 Questions About Debit Cards > >> > >> Hi. I'm new to GnuCash and to bookkeeping/accounting in general. I > have 2 > >> questions about debit cards. > >> > >> (1) I made my debit card account a Liability account, as I did with my > >> credit card accounts. In the GnuCash archives, someone wrote a debit > card > >> should be an Access account. Is that correct? > >> > >> (2) I envisioned debit card transactions as single transactions with 3 > >> stages: Checking to Debit Card to Expense (yes, I have different > expense > >> accounts). > >> But I'm beginning to think that it should be 2 transactions: [a] > Checking > >> to Debit Card, [b] Debit Card to Expense. > >> The 1st deposits into the debit card account, and the 2nd withdraws from > >> it. > >> Is that correct? > >> > >> Thanks > >> _______________________________________________________________ > >> Howard (Haim) Roman -- [email protected] -- 052-8-592-599 -- חיים > רומן > >> LinkedIn: https://www.linkedin.com/in/haimroman > >> _______________________________________________ > >> gnucash-user mailing list > >> [email protected] > >> To update your subscription preferences or to unsubscribe: > >> https://lists.gnucash.org/mailman/listinfo/gnucash-user > >> If you are using Nabble or Gmane, please see > >> https://wiki.gnucash.org/wiki/Mailing_Lists for more information. > >> ----- > >> Please remember to CC this list on all your replies. > >> You can do this by using Reply-To-List or Reply-All. > >> > >> > > _______________________________________________ > > gnucash-user mailing list > > [email protected] > > To update your subscription preferences or to unsubscribe: > > https://lists.gnucash.org/mailman/listinfo/gnucash-user > > If you are using Nabble or Gmane, please see > https://wiki.gnucash.org/wiki/Mailing_Lists for more information. > > ----- > > Please remember to CC this list on all your replies. > > You can do this by using Reply-To-List or Reply-All. > > > -- > Stephen M Butler, PMP, PSM > [email protected] > [email protected] > 253-350-0166 > ------------------------------------------- > GnuPG Fingerprint: 8A25 9726 D439 758D D846 E5D4 282A 5477 0385 81D8 > > > _______________________________________________ > gnucash-user mailing list > [email protected] > To update your subscription preferences or to unsubscribe: > https://lists.gnucash.org/mailman/listinfo/gnucash-user > If you are using Nabble or Gmane, please see > https://wiki.gnucash.org/wiki/Mailing_Lists for more information. > ----- > Please remember to CC this list on all your replies. > You can do this by using Reply-To-List or Reply-All. > -- David Carlson _______________________________________________ gnucash-user mailing list [email protected] To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. 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