I'm still working on workflow for recording purchases made via credit
card. I am wondering:
Why can't accounts called "Credit Card" be marked as "A/Payable" so that
I can post straight from a New Bill into that liability account?
Seems to me that if I have the credit side of the New Bill transaction
be some account marked as "A/Payable", then I'm going to have move that
amount to the Credit Card sometime as an extra step.
*Current workflow: *When a bill gets posted, it would be recorded like
this (since, best I can tell GnuCash requires that the posting acct be
an "A/Payable": marked account, and that characteristic is impossible
for credit card type accounts):
/*Debit*///Expense or asset
///*Credit*/ A/Payable acct
Sometime this journal entry would have to happen (when?):
/*Debit*/ A/Payable acct for amounts on credit card
/*Credit*/ Credit Card acct
When the payment reflected on the credit card statement is recorded,
it would be:
/*Debit*/ Credit Card acct
/*Credit*/ Checking acct
Seems to me that this workflow would be better, but I do not think it'll
work with GnuCash:
*Shorter workflow: *When a bill gets posted.
/*Debit*///Expense or asset
/*Credit*/ Credit Card acct
When the payment reflected on the credit card statement is recorded,
it would be:
/*Debit*/ Credit Card acct
/*Credit*/ Checking acct
Comments? Advice? Corrections?
Thank you!
Eric Chapman
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