Louise,
Is this _one_ check (or electronic withdrawal) that has an interest component and a non-interest component? I think that's what you're saying, but I'm not altogether sure. In that case, the most straightforward approach is a transaction with three splits. (Note: every transaction in a register has at least two splits, but I'm guessing from your use of the word "transfer" that you currently have the view enabled that hides one of the two.) 1. Click on the blank transaction at the bottom of your checking account register, and then click the Split icon at the top of the GC window. 2. Type your description as usual, then use Tab (_not_ Enter!) to get to the Account field on the next line. The account is whatever you call Assets:Checking Account (use your account name). Tab past the left-hand amount column and enter the payment amount in the right-hand one. (The left one is a debit and the right-hand one a credit, but I imagine you're using the "friendly names".) 3. Tap Tab to get to the Account field on the next line. (Don't worry if you can't see it initially; it will open automatically.) Here your Account is Expenses:Interest on Taxes (or whatever name you use), and it will go in the left-hand amount column. You'll see that GC has already copied the amount of withdrawal from your checking account; just type over it. 4. Tap Tab to get top the Account field on your third line. This one is Expenses:Income Tax (again, use your account name). GC should have already entered the correct amount for you in the left-hand column, i.e. the withdrawal amount minus the interest. Verify this, make any changes you need to, and tap Enter to commit the transaction. When you're in a register, any transaction of more than two pieces will show as "Split transaction". You can view the whole thing by clicking then transaction and then clicking Split at the top of the window. You might want to do that after entering this transaction. You can then click on either the interest line or the tax line, then click Jump at the top. The appropriate account register will open, and you can verify that the right things happened in each of those accounts. Stan Brown Tehachapi, CA, USA https://BrownMath.com/ On 2025-01-04 11:44, Louise wrote: > I'm not an accountant, so be gentle with me! > > I have an account set up for the money I owe the tax man. As I owe it. > I've created it as a liability. > > When I pay it from my chequing account I Withdraw from the chequing > account, and transfer to the liability account. That reduces the total > amount owed, which seems to be correct. > > However, I have to pay interest on the amount I owe, which the tax man > takes from my chequing account. So when I create the same transaction > for the interest, i.e. withdraw from chequing and transfer to tax, the > amount is reduced not increased. > > How do I add interest to the liability account by withdrawing money from > the chequing account? > _______________________________________________ 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.
