On 4/22/2022 6:24 PM, Brad wrote:
.......but I need an even number
of entries to follow double-entry accounting rules. Two entries to
transfer the funds from one account to another, and then one to show
the funds going to the property tax expense. Oh, and I guess two more
when I write the check to the county.
Thanks.
Brad
Using "entry" may be causing confusion.. Let's work in reverse:
a) Writing check to county ----- That transaction has a debit of "real
estate tax" (expense) and credit "checking account" (asset)
b) Transferring from savings to checking -- That transaction has a debit
of "checking account" and a credit of "savings account"
Now let's discuss this other tracking you want to do, making sure you
have enough transferred. WHERE did you have that amount recorded (in
what account) and how did it get there? Do not confuse "budget" with
"actual". The transactions described in "a" and "b" are actuals.
Michael D Novack
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