Thank you Stan for your contribution. I understand that my questions are not GC-related ones, but instead more related to accounting. As I'm no accountant and I'm trying to use GC to keep track of my personal finances and my total wealth, I try to rely on this mailing list for help. So far it worked very well and of course I also followed the suggestions to read through some material :-)
Thanks again for the help I'm receiving from the list. F. https://www.instagram.com/boniforti_music https://soundcloud.com/boniforti_music https://bonny-j.bandcamp.com Am Mo., 23. Sept. 2024 um 20:20 Uhr schrieb Stan Brown (using GC 4.14) < stan...@fastmail.fm>: > On 2024-09-23 10:24, R Losey wrote: > > It is possible that I am ignorant of "correct" procedure, but it seems to > > me that you really did have an opening balance in your credit card of > > 884.25, and the payment paid that off as well as the subsequent charges. > > > > In my (admittedly simple) mind, the Opening Balance is a kind of > constant - > > it is where you "started", and it doesn't make sense to change that: When > > you pay off a credit card, you are decreasing the amount of credit they > > have extended to you -- not really changing the opening balance, and the > > credit card should show that. But perhaps I am wrong. > > I think you are spot on, not wrong. To me, the reconciliation revealed > that an error had been made in recording the opening balances, and the > proper thing to do was to correct the error. The error might be > corrected by going back and fixing the original recording of opening > balances, or by entering a new transaction specifically to correct the > error -- that's a mater or personal preference in keeping one's personal > books (as opposed to business records). > > All of this discussion really shows what we often say: this is not a > GnuCash question, it's an accounting question. It's very, very important > to have a good grasp of double-entry bookkeeping then these questions > become much simpler. In some of these discussions, I fear that people > ask how to record something in GC instead of thinking about how a given > event fits into the double-entry structure. In GC, we need the same > thought process we used to follow before recording a transaction in > leather-bound ledgers with pen and ink. > > Stan Brown > Tehachapi, CA, USA > https://BrownMath.com > _______________________________________________ > gnucash-user mailing list > gnucash-user@gnucash.org > 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. > _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org 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.
