Wow! It worked! :-) Thanks, F.
https://www.instagram.com/boniforti_music https://soundcloud.com/boniforti_music https://bonny-j.bandcamp.com Am Mo., 23. Sept. 2024 um 21:03 Uhr schrieb R Losey <rlo...@gmail.com>: > Well, the "convenient" way would just be to delete the payment transaction > and then add an opening balance to the credit card account, and re-enter > the payment, all going to the credit card. (If the account has been > reconciled, you may need to re-reconcile). > > Purists advocate leaving mistakes and just enter correcting transactions, > which would have the effect of "undoing" the errors in the original entry, > but it's not as immediately clear as to how it should be entered. > > > > On Mon, Sep 23, 2024 at 1:16 PM Boniforti Flavio <bonifort...@gmail.com> > wrote: > >> mmm... OK, so now it can get very tricky (at least for me) to "revert" >> this situation. >> Can I simply change the transaction I entered in the "Equity:Opening >> Balances" and transfer it to the "Liabilities:Credit Card" account? Or will >> this mess up something? >> The actual transaction is a split transaction, as shown in my earlier >> reply with a screenshot. >> >> Thanks for your help! >> F. >> >> https://www.instagram.com/boniforti_music >> https://soundcloud.com/boniforti_music >> https://bonny-j.bandcamp.com >> >> >> Am Mo., 23. Sept. 2024 um 19:39 Uhr schrieb R Losey <rlo...@gmail.com>: >> >>> Yes, on my credit card, I had an entry on 31 Dec of the prior year that >>> called "Opening Balance" - the amount is the amount carried forward, and >>> the other account is "Equity:Opening Balances". >>> >>> >>> On Mon, Sep 23, 2024 at 12:30 PM Boniforti Flavio <bonifort...@gmail.com> >>> wrote: >>> >>>> mmm... now reading your latest reply I start to see it. Indeed I had an >>>> open balance (not yet paid) on 31st of December 2023 on my credit card >>>> account. Therefore it sounds logical to set the "opening balance" on this >>>> account, instead of the "Equity:Opening Balance" account. >>>> Trying to do this, I see that there's no "Opening Balance" tab in the >>>> credit card account. Is there any way to enter it anyway? Eventually just >>>> as a simple transaction on the 31st of december, calling it "opening >>>> balance"? >>>> >>>> Thanks, >>>> F. >>>> >>>> https://www.instagram.com/boniforti_music >>>> https://soundcloud.com/boniforti_music >>>> https://bonny-j.bandcamp.com >>>> >>>> >>>> Am Mo., 23. Sept. 2024 um 19:24 Uhr schrieb R Losey <rlo...@gmail.com>: >>>> >>>>> I saw his reply. >>>>> >>>>> 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. >>>>> >>>>> If you previously used some other method of tracking finances, you'll >>>>> want the continuity of having the last balance in the old match the >>>>> starting balance in the new. >>>>> >>>>> >>>>> On Mon, Sep 23, 2024 at 12:13 PM Boniforti Flavio < >>>>> bonifort...@gmail.com> wrote: >>>>> >>>>>> Hi Richard. >>>>>> So you suggest setting the opening balance on the "Liabilities:Credit >>>>>> Card" to 884.25 instead of deducting that amount from the opening balance >>>>>> of my "Equity:Opening Balances"? Because the latter is what I did, >>>>>> following Murugan's reply... >>>>>> >>>>>> Thanks for helping me better understand. >>>>>> F. >>>>>> https://www.instagram.com/boniforti_music >>>>>> https://soundcloud.com/boniforti_music >>>>>> https://bonny-j.bandcamp.com >>>>>> >>>>>> >>>>>> Am Mo., 23. Sept. 2024 um 19:09 Uhr schrieb R Losey <rlo...@gmail.com >>>>>> >: >>>>>> >>>>>>> >>>>>>> >>>>>>> On Mon, Sep 23, 2024 at 8:20 AM Boniforti Flavio < >>>>>>> bonifort...@gmail.com> wrote: >>>>>>> >>>>>>>> Hi list. >>>>>>>> >>>>>>> >>>>>>> Hello, and welcome! >>>>>>> >>>>>>> >>>>>>> >>>>>>>> >>>>>>>> I don't know how to phrase it with a one-liner, thus the subject >>>>>>>> line might >>>>>>>> be unclear :-( >>>>>>>> I'll try to explain. >>>>>>>> >>>>>>> >>>>>>> It was clear >>>>>>> >>>>>>> >>>>>>> >>>>>>>> I've started with GnuCash a couple of weeks ago, trying to >>>>>>>> understand how >>>>>>>> it works and how I can apply it to my personal finances. At one >>>>>>>> point I >>>>>>>> decided to put some real values in it and I put the "opening >>>>>>>> balances" for >>>>>>>> my bank accounts dating on the 31st of December, 2023. I am now >>>>>>>> slowly (but >>>>>>>> it is an exercise for me to understand how all this works) manually >>>>>>>> entering my transactions - please don't comment about this being >>>>>>>> time-consuming or similar: I know it already! :-) >>>>>>>> >>>>>>> >>>>>>> Well, your opening balance for your credit cards should have been >>>>>>> whatever it was on 31 Dec... per your records below, that should have >>>>>>> been >>>>>>> 1136.80-252.55 (884.25). Then your checking account is reduced by the >>>>>>> full >>>>>>> bill, and your credit card has a payment of 1136.80, which -- if there >>>>>>> are >>>>>>> no new transactions -- should leave the credit card balance at zero. >>>>>>> >>>>>>> I hope this helps! >>>>>>> >>>>>>> >>>>>>> -- >>>>>>> _________________________________ >>>>>>> Richard Losey >>>>>>> rlo...@gmail.com >>>>>>> Micah 6:8 >>>>>>> >>>>>> >>>>> >>>>> -- >>>>> _________________________________ >>>>> Richard Losey >>>>> rlo...@gmail.com >>>>> Micah 6:8 >>>>> >>>> >>> >>> -- >>> _________________________________ >>> Richard Losey >>> rlo...@gmail.com >>> Micah 6:8 >>> >> > > -- > _________________________________ > Richard Losey > rlo...@gmail.com > Micah 6:8 > _______________________________________________ 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. 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