Yep, on reading your message and on re-examination and some testing of
various ways of entering it, and actually thinking out the situation
:-), I got it more or less right.
Thank you so much for the entirely logical explanation, very helpful.
On 04/07/2020 05:42, Tommy Trussell wrote:
On Fri, Jul 3, 2020 at 8:36 AM Mahon Finbar <mahon.fin...@neuf.fr
<mailto:mahon.fin...@neuf.fr>> wrote:
I got reimbursed a sum of over €500 on my credit card account.
It seems to be causing some issues with reconciling the a/c.
I entered the amount as a 'credit card payment' The reimbursement
meant
that the a/c was in credit for quite a while :-) but is now back to
'normal' i.e. I pay for things and then pay at the end of the month,
always, i.e. I don't have a balance unpaid at that moment.
However, the a/c won't reconcile, even avoiding, as uncleared, the
current outstandings.
Am I doing something wrong?
Hi! I can think of a couple of possibilities. Have you been
reconciling the credit card account every month, or was this the first
time you tried?
If you have been reconciling it every month and this is the first time
you've had a problem, I would suspect you entered the statement
balance as a positive when it should have been a negative. (So in
other words, most of the time when you get a statement, you owe
something, let's say €240. But after the credit balance instead of
-€260 -- negative two hundred sixty euros.)
Another thing I noticed is that you said "I got reimbursed a sum of
over €500 on my credit card account."
When you got reimbursed, you do NOT enter that amount as if you wrote
a check to the credit card company -- if you were reimbursed for an
expenditure (either you returned an item to a store, or you were
reimbursed by a third party for things you bought on your credit card)
then you would enter that in the credit card register as a NEGATIVE
expenditure. In the register it would appear as a positive number in
the same COLUMN as your payments, but its other split account would
offset whatever expenditure you are being reimbursed for.
So in your credit card register, if you purchase an appliance, the
original transaction might look like:
Store A Expenses:Household:Appliances [cr] €500
Then you return the appliance to store A for a full refund:
Store A Expenses:Household:Appliances [dr] €500
The first transaction increases your credit card liability and the
second transaction reduces the credit card liability (in this case, as
you described it, below zero because in between the purchase and the
return you paid off your credit card bill). SO the next time you
reconcile your statement you would need to enter a NEGATIVE number in
the starting balance.
If you had been reimbursed using a different form of payment (such as
a check or bank draft) then you would have entered it similarly into
THAT bank account, as a negative expenditure with the positive part of
the money going into the bank account.
If you need some more guidance, have a look at the GnuCash
documentation, especially section 2.9 of Chapter 2.
https://www.gnucash.org/docs/v4/C/gnucash-guide/chapter_txns.html
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