Similar comment, by a non-accountant. What I do with transactions that are planned is to enter them when I place the forward transaction with the bank, & set the date as when the account will be paid (or transferred). I can always see the current day balance by looking at the dividing line on the account at todays date. Recurring expenses such as loan payments, periodical payments etc are copied using the duplicated transaction, then edited if required. This is handy for transactions with multiple splits (such as your pay if employed), where the amounts might change, but the splits remain fairly consistent (albeit with changed amounts). eg in my case for deposited weekly pay (before I retired!) I had (to give an idea) Total pay> Income; Tax> Tax; Superannuation> Super; various benefits & payments such as Union fees> relevant accounts. By using a duplicated transaction, it is easier to remember exactly how the splits are distributed. Hope that helps Mr Newbie! regards, Doug
On Sun, 7 Nov 2021 10:42:10 +0000 Michael Hendry <hendry.mich...@gmail.com> wrote: > On 6 Nov 2021, at 21:40, Shevach Pepper <sheva...@gmail.com> wrote: > > > > Hello there, > > 'I'm having trouble on how to record buying groceries on Jan. 1 with a > > head check for Feb. 1 > > What I understood from the manual that this is not an expense but a > > liablity but I don't understand if I should make two accounts one > > expense: grocery and one "liability: grocery" or some easier way to > > record this. > > Thank you very much for the help > > Shevach > > gif > > I’m assuming a “head check” is what we in the UK would call a post-dated > cheque - a cheque which can’t be cashed until a stated date; for what it’s > worth, I understand that banks in the UK will often make the payment if the > cheque is presented early. > > I would suggest recording the expense on the date of the purchase as a > transaction between your checking account and the grocery store. If you wish, > you could add a note to indicate that the check can’t be presented until 1st > Feb to avoid confusion when reconciling the bank account. > > It’s a similar situation to making a postal payment by check - you know that > the payee won’t receive it for several days and may not take it to the bank > for several days after that, but you’re recording your commitment to the > payee rather than the date on which the bank transfers the money to his > account. > > I am not an accountant, but there are those on the list who will no doubt > correct me if there are problems with the way I view this! > > Michael > > _______________________________________________ > gnucash-user mailing list > gnucash-user@gnucash.org > 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 gnucash-user@gnucash.org 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.
