On Thu, 26 Oct 2023 05:58:30 +1000
David Cousens wrote:
> While I agree with Liz's point with regard to different learning
> modalities, I still think it is a good practice to at least skim the
> available documentation and particularly read at least the Basics
> section of the Guide before
: $120
Cr: Asset:Bank:CheckingAccount: $120
hope this helps
Saludos Cordiales
Murugan
From: gnucash-user
on behalf of
Michael or Penny Novack
Sent: Wednesday, October 25, 2023 5:37 PM
To: gnucash-user@gnucash.org
Subject: Re: [GNC] I need basic help
Back
Back when I paid it, I just made a payment out of my bank
checking account straight to the CC company. Now, how do I assign that
transaction? It’s not a CC expense but it is an expense of some
kind—just from a different place. My CC statement will go into my
Liability Account, right? So does
While I agree with Liz's point with regard to different learning modalities, I
still think it is a good practice to at least skim the available documentation
and particularly read at least the Basics section of the Guide before diving
in.
The underlying concepts to accounting and even the
While the generic subject line of this thread could cover practically any
subject (and seemingly has), I'd like to recommend that users get in the habit
of creating new threads for new topics.
David T.
On Oct 25, 2023, 8:23 PM, at 8:23 PM, Fred Tydeman
wrote:
>At top left of screen, click
com> email
From: gnucash-user on
behalf of Edwin Booth via gnucash-user
Sent: Wednesday, October 25, 2023 1:56 PM
To: Steve Butler
Cc: GnuCash Users
Subject: Re: [GNC] I need basic help
Okay. Figured out how to add a new expense accoun
On Wednesday, 25 October 2023 18:56:11 BST Edwin Booth via gnucash-user wrote:
> Back when I paid it, I just made a payment out of my bank checking account
> straight to the CC company. Now, how do I assign that transaction? It’s not
> a CC expense but it is an expense of some kind—just from a
Okay. Figured out how to add a new expense account. I’m on a MacBook and am
figuring that out as well.
I’ve been entering credit card transactions from my newly downloaded CC
statement. Expenses are being assigned to various expense accounts. I’m now at
a credit card payment line. Back when I
At top left of screen, click on Accounts.
Then under Account Name, click on Expenses
Then click on New at top of screen.
that will get you a popup to create a new account.
On Wed, Oct 25, 2023 at 10:02 AM Edwin Booth via gnucash-user <
gnucash-user@gnucash.org> wrote:
> How do I add a new
How do I add a new Expense Account? I’d like to assign transactions in my CC
(liability) account to a few additional expense accounts. GnuCash said I could
“add more later” but I cannot seem to do it right. Do I have to assign that
account to some different top-level account?
Sent from Yahoo
...
-Original Message-
From: G R Hewitt
Sent: Wednesday, October 25, 2023 1:59 AM
To: gnucash-user@gnucash.org
Subject: Re: [GNC] I need basic help
Good point, which is probably why schools are the worst place to send your
child, 'One size fits all'.
On Tue, 24 Oct 2023 at 22:39, Liz wrote
As a non-accountant (although I pretend to be one sometimes) I can't figure
out Dr/Cr except that Dr=left,Cr=right.
But I do understand numbers (referring to dollars, or, a hot potato).
My 4 Rules:
1. Each transaction must total to zero (i.e. after a transaction is
complete, no hot potato
Good point, which is probably why schools are the worst place to send your
child, 'One size fits all'.
On Tue, 24 Oct 2023 at 22:39, Liz wrote:
> On Sat, 21 Oct 2023 09:12:57 -0700
> "Stan Brown (using GC 4.14)" wrote:
>
> > It strikes me that you're trying to use GnuCash without first reading
two thumbs up!
On 10/24/23 16:35, Liz wrote:
On Sat, 21 Oct 2023 09:12:57 -0700
"Stan Brown (using GC 4.14)" wrote:
It strikes me that you're trying to use GnuCash without first reading
the documentation. That's like trying to run before you can walk.
Others have already made the suggestion,
On Sat, 21 Oct 2023 09:12:57 -0700
"Stan Brown (using GC 4.14)" wrote:
> It strikes me that you're trying to use GnuCash without first reading
> the documentation. That's like trying to run before you can walk.
> Others have already made the suggestion, but maybe you missed their
> messages.
If I can add my own beginner’s 2ç:
One breakthrough came for me when I realised that the statement of
financial position is basically a catalogue of what would happen if you
were to die* right now.
All that’s owed to you (debits) gets given to others (credits).
Your net position is always
That might be the section I was referencing in my reply to David C.
Maybe it just could use an edit? I'll look it over.
Regards,
Adrien
On 10/23/23 10:28 AM, sunfish62--- via gnucash-user wrote:
Doesn't Chapter 2.1 Accounting Concepts cover exactly this?
Doesn't Chapter 2.1 Accounting Concepts cover exactly this?
David T.
On Oct 22, 2023, 11:46 PM, at 11:46 PM, David Cousens
wrote:
>Adrien,
>
>This needs to make it into the Basics section of the Guide. I am
>planning to
>revise it when I get a break from grandchildren and other activities
Hilarious!
Regards,
Adrien
On 10/23/23 3:41 AM, G R Hewitt wrote:
Thanks, Adrian, for that clear explanation, it has raised me out of the
Baldrick class nicely:
Blackadder : Right Baldrick, let's try again shall we? This is called
adding. If I have two beans, and then I add two more beans,
Thanks, Adrian, for that clear explanation, it has raised me out of the
Baldrick class nicely:
Blackadder : Right Baldrick, let's try again shall we? This is called
adding. If I have two beans, and then I add two more beans, what do I have?
Baldrick : Some beans.
Blackadder : Yes... and no. Let's
Cool, thanks!
(I attempted to setup a documentation build workflow long ago but put it
on a back burner along with a pile of other things. I need to bring it
to the front. In the meantime, thanks for considering this a worthy
addition.)
There is already some discussion with nice graphics
Adrien,
This needs to make it into the Basics section of the Guide. I am planning to
revise it when I get a break from grandchildren and other activities in line
with some of flywire's comments re putting transaction explanation before the
details of accounts.
David
On Sun, 2023-10-22 at 12:36
On 2023-10-22 10:42, Adrien Monteleone wrote:
> I am also of the opinion that hiding or obfuscating terms and concepts
> is not the solution.
+1
It usually makes things harder not easier, as this very thread has
illustrated at great length.
Stan Brown
Tehachapi, CA, USA
https://BrownMath.com/
I am also of the opinion that hiding or obfuscating terms and concepts
is not the solution.
Education is.
Yeah, I got an A in Accounting 101, big whoop, but I've understood it by
leaps and bounds decades later by using GnuCash with formal labels
turned on. (and using the Transaction Journal
By default, formal labels are not used. GnuCash already caters to this idea.
Regards,
Adrien
On 10/20/23 5:48 PM, flywire wrote:
https://lists.gnucash.org/pipermail/gnucash-user/2023-October/109184.html
Edwin Booth wrote:
I need to wrap my head around the whole “debit/credit” concept.
No
Edwin,
Debit/Credit is just Left/Right.
Maybe this will help...
The Accounting Equation:
Assets - Liabilities = Equity
(let's make all terms 'positive')
Assets = Liabilities + Equity
(now, we'll split off a subset of Equity)
Assets = Liabilities + Equity + Retained
On 10/21/23 11:38 AM, R Losey wrote:
On Fri, Oct 20, 2023 at 11:57 AM Michael or Penny Novack <
stepbystepf...@comcast.net> wrote:
On 10/20/2023 11:47 AM, Edwin Booth wrote:
Thank you Michael. The ancient history of these terms is really
interesting. I don’t really “get it” yet but I see the
It may be because I have a lot of experience and training in accounting,
but it seems to me that using different terms depending on the account just
adds to the confusion. To me, using just "debit" and "credit" is a lot
easier - but one must understand three accounting basics:
1. that every
On Fri, Oct 20, 2023 at 11:57 AM Michael or Penny Novack <
stepbystepf...@comcast.net> wrote:
> On 10/20/2023 11:47 AM, Edwin Booth wrote:
> > Thank you Michael. The ancient history of these terms is really
> > interesting. I don’t really “get it” yet but I see the idea here. Very
> > hard to set
This is what I have done, and it's been helpful to me.
On Fri, Oct 20, 2023 at 3:14 PM Fross, Michael wrote:
> A help to me was to turn off 'Use Formal Accounting Labels" in the settings
> when I started (and have never enabled that.) I feel it is much easier to
> understand for non-accounting
On 2023-10-21 08:58, Edwin Booth via gnucash-user wrote:
> Thanks again to all! But here’s a simple question that I need the answer to
> so I may start entering expenses. I have set up an account hierarchy tree and
> now I want to assign expense accounts to specific transactions that I made
>
On 2023-10-20 18:35, David Cousens wrote:
> I disagree however that the non-accounting terminology should be the default.
> The non-accounting terminology is often not precise in its meaning whereas
> once
> you have understood the definitions, the meaning of the accounting terminology
> and its
Thanks again to all! But here’s a simple question that I need the answer to so
I may start entering expenses. I have set up an account hierarchy tree and now
I want to assign expense accounts to specific transactions that I made with my
credit cards. But I wish to add some accounts to the basic
I do agree with the comments in your previous post that the concept of
transactions needs to be explained before or at least in parallel to concept of
accounts. I rewrote a fair bit of the basics section of the guide when I was
fresh out of an accounting master's which might account for its more
https://lists.gnucash.org/pipermail/gnucash-user/2023-October/109184.html
Edwin Booth wrote:
> I need to wrap my head around the whole “debit/credit” concept.
No you don't but you do need to understand the concept of account types and
moving money between them. I've studied economics at Uni,
On 10/20/2023 4:13 PM, Fross, Michael wrote:
A help to me was to turn off 'Use Formal Accounting Labels" in the settings
when I started (and have never enabled that.) I feel it is much easier to
understand for non-accounting people.
Some of you will find the "user friendly" column titles
A help to me was to turn off 'Use Formal Accounting Labels" in the settings
when I started (and have never enabled that.) I feel it is much easier to
understand for non-accounting people.
On Fri, Oct 20, 2023 at 12:53 PM Mark via gnucash-user <
gnucash-user@gnucash.org> wrote:
> Oct 20, 2023
Oct 20, 2023 09:06:46 Michael or Penny Novack :
> That might not be of much help (understanding the terms "debit" and "credit")
>
> History might, …
My point was that you don't *have* to learn all that before GnuCash will be
useful to you. The history *is* helpful to understand the terms
On 10/20/2023 11:47 AM, Edwin Booth wrote:
Thank you Michael. The ancient history of these terms is really
interesting. I don’t really “get it” yet but I see the idea here. Very
hard to set aside the use of credit and debit in the modern sense and
use them in a very different way. Counter
Thank you Michael. The ancient history of these terms is really interesting. I
don’t really “get it” yet but I see the idea here. Very hard to set aside the
use of credit and debit in the modern sense and use them in a very different
way. Counter intuitive.
Sent from Yahoo Mail for iPhone
I need to wrap my head around the whole “debit/credit” concept.
One thing that helps me keep it straight is that money flows from credit to
debit. Credit the account that money is coming from, debit the account that
money is going to. There is more to consider of course, like whether an
It *IS* hard because the accounting use of debit/credit is different from
the common or colloquial usage of the words. In everyday usage, people tend
to use "debit" as a synonym for "decrease" and "credit" to mean "increase",
and that is NOT the case in accounting, as the tutorials helpfully
Oct 20, 2023 00:03:40 Edwin Booth via gnucash-user :
> I need to wrap my head around the whole “debit/credit” concept.
One thing that helps me keep it straight is that money flows from credit to
debit. Credit the account that money is coming from, debit the account that
money is going to.
I am working my way through the tutorial. One of the things it says near the
beginning is that one should set up a practice file. I need to wrap my head
around the whole “debit/credit” concept.
Thanks for your help. Everyone’s comments and suggestions are quite helpful.
Edwin
Sent from Yahoo
No doubt but reading is a good point from which to start practising.
David
On Fri, 2023-10-20 at 07:19 +1100, flywire wrote:
> https://lists.gnucash.org/pipermail/gnucash-user/2023-October/109173.html
> David Cousens wrote:
> > I would suggest you read at least the introductory sections of the
>
Accounting by numbers eh:)
On Thu, 19 Oct 2023 at 21:21, flywire wrote:
> https://lists.gnucash.org/pipermail/gnucash-user/2023-October/109173.html
> David Cousens wrote:
> > I would suggest you read at least the introductory sections of the
> GnuCash Tutorial and Concepts guide under the
https://lists.gnucash.org/pipermail/gnucash-user/2023-October/109173.html
David Cousens wrote:
> I would suggest you read at least the introductory sections of the
GnuCash Tutorial and Concepts guide under the heading Basics
https://www.gnucash.org/viewdoc.phtml?rev=5=C=guide
I doubt many people
Thank you. I’ll try it that way.
Sent from Yahoo Mail for iPhone
On Thursday, October 19, 2023, 11:26 AM, Steve Butler wrote:
On Wed, Oct 18, 2023, 23:04 Edwin Booth wrote:
Steve,
Thanks for getting back to me!
It seems that I need to first delete my newly downloaded file from GnuCash
On Wed, Oct 18, 2023, 23:04 Edwin Booth wrote:
> Steve,
>
> Thanks for getting back to me!
>
> It seems that I need to first delete my newly downloaded file from GnuCash
> and re-import it but first assign all the
>
Yes, remove those transitions or restore to a pre-import backup.
transactions
On Thursday, 19 October 2023 07:04:39 BST Edwin Booth via gnucash-user wrote:
> How do I now assign
> all those transactions to their proper accounts without first importing
> this OFX file into GnuCash?
one step in the inport process is to assign the accounts. GC "learns" and
will offer
On 10/19/2023 2:04 AM, Edwin Booth via gnucash-user wrote:
Steve,
Thanks for getting back to me!
It seems that I need to first delete my newly downloaded file from GnuCash and
re-import it but first assign all the transactions to various accounts. I have
gone through the process (I think) of
Steve,
Thanks for getting back to me!
It seems that I need to first delete my newly downloaded file from GnuCash and
re-import it but first assign all the transactions to various accounts. I have
gone through the process (I think) of creating a hierarchy of accounts (though
I will surely want
Edwin,
For specific help on importing and the process of matching accounts See
https://www.gnucash.org/docs/v4/C/gnucash-help/trans-import.html
You can create new accounts while in the Import Matcher dialogue. The matcher
has to be trained by assigning accounts to transactions during the import
Thank you for getting back to me so quickly.
I also got an email from Steve who explained that I needed to have all those
expense accounts created prior to importing an OFX file. And I need to assign
each of the transactions to one of these accounts after downloading it but
before actually
Edwin,
I would suggest you read at least the introductory sections of the GnuCash
Tutorial and Concepts guide under the heading Basics
https://www.gnucash.org/viewdoc.phtml?rev=5=C=guide and/or the Help
Manual https://www.gnucash.org/viewdoc.phtml?rev=5=C=help
. This will give you a good idea
Edwin,
I routinely download my CC transactions using OFX. I think you missed a
very important step.
It sounds like you did tie this OFX file to your CC Liability Account.
That will be remembered for all future imports from this CC.
It also sounds like you may not have set up all the
You need to assign each CC transaction to an expense account. E.g. McDonalds is
"dining".
When you pay down your CC, you make a transfer from you checking (or cash/etc)
to the cc account.
The expense categories will allow you to run reports and see what you are
spending your money on.
Your
Hi. New to this. I just downloaded an OFX file for a credit card I have. I
imported it into my “Unsaved Book.” That worked. It is now on the Accounts
Page with an amount under the “Total” column. But there is also a line that
says “Imbalance-USD” with the same same amount under Total. I understand
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