On 5/18/2023 5:38 PM, Chris Ledbetter via gnucash-user wrote:
Hi, Currently using GnuCash 4.14. I have Credit Card A with an opening balance (transfer Equity:Opening Balances) and subsequent transactions. I set up Credit Card B. I transfer the majority of the balance to Credit Card B but still keep Credit Card A. How do I set up Credit Card B transactions? In Credit Card A is move the balance as a transaction (transfer Liabilities:Credit Card:Credit Card B) and in Credit Card B the initial transaction is (transfer Liabilities:Credit Card:Credit Card A). Is this the correct way to transfer? Should Credit Card B have on E even if thequity:Opening Balance?
a0 When you set up credit card B (with the bank issuing it) was there a balance already? If not, you just create the account with zero starting balance.
NOTE --- you can always do this even if there is a balance in some new account you are creating. The "wizard" allowing you to create an account with a balance WITHOUT an explicit transaction putting it there is just a shortcut, useful when opening new books, LOTS of accounts with a starting balance. But when adding an account to your CoA might as well do it the old fashioned way with an initial transaction.
b) The transferring X dollars liability from Credit Card A to Credit Card B is a transaction debit A and credit B for $X If you are using the supposedly "user friendly" column titles, I will leave it to you to figure out which is debit and which credit. But essentially this transaction is just a transfer of a liability.,
Michael D Novack _______________________________________________ gnucash-user mailing list [email protected] To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
