So I think I've made a discovery.
For some reason things are working how they should, and when I went back
over what I had done I realised that I turned off the setting "Reverse
Balanced Accounts".
The trans actions are working the way they are supposed to, so thank you
everyone who contributed to this topic.
On 2025-03-18 1:08 p.m., Derek Atkins wrote:
Hi.
Please remember to CC gnucash-user on all replies...
Define "overpaid".
Going step-by-step:
1. Liability -> Expense (e.g. you are billed for $50)
2. Bank -> Liability (e.g. you over-pay $75)
.. At this point, the Liability should say that they owe you!
3. Liability -> Bank (e.g. They refund you $50)
.. At this point, the Liability should be $0
Of course, your situation might be different.
-derek
On Tue, March 18, 2025 2:51 pm, Griffin wrote:
I overpaid, so the liability is showing I owe. They send me a cheque to
zero out the balance, and send me a cheque that I bank.
On March 18, 2025 11:22:34 a.m. MDT, Derek Atkins <de...@ihtfp.com> wrote:
Hi,
You are doing something wrong. So let me ask you a question:
How does the refund work in real-life?
My guess is that the refund is actually a "reduction of expense" --
because it's coming from the Vendor directly. It should probably not hit
the liability account at all, unless the goal is the reduce the amount
you
owe to the vendor. So either it is:
Expense -> Liability (reducing how much you owe)
or
Expense -> Bank (they sent you a check and you deposited it).
-derek
On Tue, March 18, 2025 1:12 pm, griffin wrote:
Sorry, but I'm still having an issue with this process.
Setting the bill value as a transfer from the expense account to the
liability account is working fine, as is paying off the liability from
the chequing account.
However, dealing with a refund is still causing a problem.
1.) If I make a deposit into the chequing account from the liability
account, Gnucash makes the balance of the liability account go up, not
down towards zero. Making the value a negative number, only results in
the value moving to the other column (see the second point).
2.) If I make the transfer from the liability account in the decrease
column, setting the balance to zero, the transaction appears in the
chequing account as a withdrawal.
This is all controlled by GnuCash. Am I doing something, or is GnuCash
doing something of which I'm not aware.
On 2025-03-17 12:01 p.m., griffin wrote:
I have been trying this, and I've hit a small issue.
I made an over payment to my phone bill, and then moved to another
carrier, so I was over paid in the liability account.
When I tried to "refund" this overpayment to my chequing account
GnuCash either doubles the liability, or withdraws the refund from the
chequing account.
(...and yes, I feed my dog Dog Foof!!!😳)
I don't seem to be able to reduce the liability to zero, and increase
the chequing account balance.
What have I done wrong?
On 2025-03-17 10:56 a.m., R Losey wrote:
On Sun, Mar 16, 2025 at 11:56 AM Michael or Penny Novack via
gnucash-user <
gnucash-user@gnucash.org> wrote:
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
Your suggestion is even better and simpler (no splits); I was trying
to
think of how to do it the way you suggest, but somehow confused
myself and
couldn't figure out what the two transactions would look like. (I
don't
know what I was thinking; it's perfectly obvious today).
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