On 3/16/2025 12:13 AM, R Losey wrote:
Hi. I'd just set such accounts up as sub-accounts under Liabilities. Using
your example (electricity)
1) Create an "Electricity" account under "Liabilites" (alternatively, you
could use the provider as the name of the account
2) Using your $120 bill as an example, when you pay $60 and owe them $60,
you'd create a three-way split
Checking: decrease (credit) $60
Expenses->Utilities->Electricity: increase (debit) $120
Liabilities->Electricity: increase (credit) $60
You COULD do it that way. Splits when paying the bill.
But I suggested entering the expense/liability when the bill arrives
with an effective date the due date of the bill. Then when you pay all
or part of the bill, the transaction just liability/bank account. No
split transactions involved. (well MAYBE no splits -- besides being
billed for electricity might also have late fees and/or interest
charges. You MIGHT just bundle those into electricity expense but also
might instead might want to see how much you are being hit with late
fees and interest on all your bills).
Michael D Novack
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