Re: [GNC] I need basic help
On 10/19/2023 2:04 AM, Edwin Booth via gnucash-user wrote: Steve, Thanks for getting back to me! It seems that I need to first delete my newly downloaded file from GnuCash and re-import it but first assign all the transactions to various accounts. I have gone through the process (I think) of creating a hierarchy of accounts (though I will surely want to add more expense accounts later). Okay, I have deleted the AMEX credit card OFX account that I imported into GnuCash and have gone back to my Mac Downloads file. How do I now assign all those transactions to their proper accounts without first importing this OFX file into GnuCash? Doesn’t it have to be in GnuCash before it can even know what accounts are available? Edwin trying to run before you can walk is a hard way to learn. You are trying to jump right in to the "fully automated" entry of credit card transactions without any understanding of the (otherwise) manual process you are automating. So for just a moment, forget about the download, and pretend you were entering these transactions one at a time AS THEY OCCURRED (rather than waiting till the statement). On day 1, you use your credit card to pay for dinner out. You enter a transaction, debit expense "dining out" and credit "credit card". You paid for this expense by incurring a liability ON DAY 1 << when you pay on the bill from the credit card not relevant >> Now if at the time you did not yet have this expense account, you would have created it in order to enter the transaction. On day 2, you use your credit card to pay for a tank full of gas. You enter a transaction to debit "vehicle fuel" and credit "credit card". On day 3, you use your credit card to send a donation to to XYZ. You debit "charity donations" and "credit credit card". Understand? You WILL have all the expense accounts you need for these transactions because you would have created any new ones you needed as you went (and if a repeat, say you fill up your tank again on day 17, well "vehicle fuel exists because it did on day 2. At the end of the month you get a credit card statement showing the total owed. You can pay that amount in full or some partial payment (at least the minimum) but that transaction is NOT an expense. You need to get your head around that, because it feels like "expense is when the money leaves my hand". No, you incurred those expense earlier. The transaction you enter now will be a debit to "credit card" and a credit to "checking account" for the amount of your payment. THAT describes the "manual" process. IMHO, you should do it that way for at least one or two months before trying to do it by downloading. Why? Because then the majority of expense accounts needed will exist in advance of the download. The way you are doing it, almost none of the necessary expense accounts exist in advance. Michael D Novack Michael D Novack ___ 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.
Re: [GNC] I need basic help
On Thursday, 19 October 2023 07:04:39 BST Edwin Booth via gnucash-user wrote: > How do I now assign > all those transactions to their proper accounts without first importing > this OFX file into GnuCash? one step in the inport process is to assign the accounts. GC "learns" and will offer suggestions, but to start with, you have to do that manually. Don't just click through the diallog boxes > But for some reason I saw > this email in my Yahoo mail app rather than in my Gmail app. Please respond > to this by sending out my Gmail account. elybee...@gnail.com. Thanks, > Edwin > > > Sent from Yahoo Mail for iPhone > I think the replies have gone to Yahoo! because you sent the original mail from Yahoo! and Yahoo! has set this header (instruction for email software) Reply-To: Edwin Booth I've only replied to the list, not to Edwin personally, although my email software was expecting to send to the Yahoo! address and I overrode that... HTH, Maf. ___ 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.
Re: [GNC] I need basic help
On Wed, Oct 18, 2023, 23:04 Edwin Booth wrote: > Steve, > > Thanks for getting back to me! > > It seems that I need to first delete my newly downloaded file from GnuCash > and re-import it but first assign all the > Yes, remove those transitions or restore to a pre-import backup. transactions to various accounts. I have This is done during the import process just after you open the file. You should see a list of the transactions that will be loaded. Pick each one and be sure it has the correct destination account. That's how the import process is taught. gone through the process (I think) of creating a hierarchy of accounts (though I will surely want to add more expense accounts later). > > Okay, I have deleted the AMEX credit card OFX account that I imported into > GnuCash and have gone back to my Mac Downloads file. How do I now assign > all those transactions to their proper accounts without first importing > this OFX file into GnuCash? Doesn’t it have to be in GnuCash before it can > even know what accounts are available? > > It’s late now, so I’ll wait for an answer to this first question before > going on. > > But for some reason I saw this email in my Yahoo mail app rather than > in my Gmail app. Please respond to this by sending out my Gmail account. > elybee...@gnail.com. > > Thanks, > > Edwin > > > Sent from Yahoo Mail for iPhone > > On Wednesday, October 18, 2023, 2:05 PM, Stephen M. Butler > wrote: > > Edwin, > > I routinely download my CC transactions using OFX. I think you missed a > very important step. > > It sounds like you did tie this OFX file to your CC Liability Account. > That will be remembered for all future imports from this CC. > > It also sounds like you may not have set up all the various expense > accounts (Groceries, Fuel, Hardware, etc). Those need to be setup as > accounts under the Expense top-level account. > > Then, during the import process, after you pick the file but before > doing the actual import step you will see a list of all the > transactions. During this first import none of them will show the > corresponding expense account. You will need to click on each line and > indicate to which account that expense should be assigned. In some > cases you will have a payment so up. For the first time you will need > to assign this to your Asset/Checking account. > > This process of assigning accounts to each transaction will teach the > import process how to automatically assign them in the future. As the > importer learns each transaction (based on the description), it will > begin to automatically assign the proper accounts. Occasionally you may > need to correct the account assignment or it may see a new description > and not know leaving it assigned to the Invalid Account. This is your > clue to click on that line (perhaps double click) and make the > appropriate assignment. > > Hopefully this helps you on future imports. > > --Steve > > Stephen M Butler > stephen.m.butle...@gmail.com > kg...@arrl.net > 253-350-0166 > --- > GnuPG Fingerprint: 8A25 9726 D439 758D D846 E5D4 282A 5477 0385 81D8 > > On 10/18/23 11:09, Edwin Booth wrote: > > Hi. New to this. I just downloaded an OFX file for a credit card I have. > I > > imported it into my “Unsaved Book.” That worked. It is now on the > Accounts > > Page with an amount under the “Total” column. But there is also a line > that > > says “Imbalance-USD” with the same same amount under Total. I understand > (I > > think) that that Imbalance is due to the fact that I have no other > account > > in there and so there is nothing to balance my CC account with. > > > > So, I obviously need to enter some new accounts. I haven’t paid off all > of > > that CC account, but I have paid some of it. The unpaid portion would be > > under “Liability” I assume, and the paid part under “Expense.” > > > > Not sure what to do next. I’m running GnuCash on a MacBook Pro, which I’m > > also pretty new at. > > > > Thanks, > > > > Edwin > > ___ > > 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. > > ___ 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
Re: [GNC] I need basic help
Thank you. I’ll try it that way. Sent from Yahoo Mail for iPhone On Thursday, October 19, 2023, 11:26 AM, Steve Butler wrote: On Wed, Oct 18, 2023, 23:04 Edwin Booth wrote: Steve, Thanks for getting back to me! It seems that I need to first delete my newly downloaded file from GnuCash and re-import it but first assign all the Yes, remove those transitions or restore to a pre-import backup. transactions to various accounts. I have This is done during the import process just after you open the file. You should see a list of the transactions that will be loaded. Pick each one and be sure it has the correct destination account. That's how the import process is taught. gone through the process (I think) of creating a hierarchy of accounts (though I will surely want to add more expense accounts later). Okay, I have deleted the AMEX credit card OFX account that I imported into GnuCash and have gone back to my Mac Downloads file. How do I now assign all those transactions to their proper accounts without first importing this OFX file into GnuCash? Doesn’t it have to be in GnuCash before it can even know what accounts are available? It’s late now, so I’ll wait for an answer to this first question before going on. But for some reason I saw this email in my Yahoo mail app rather than in my Gmail app. Please respond to this by sending out my Gmail account. elybee...@gnail.com. Thanks, Edwin Sent from Yahoo Mail for iPhone On Wednesday, October 18, 2023, 2:05 PM, Stephen M. Butler wrote: Edwin, I routinely download my CC transactions using OFX. I think you missed a very important step. It sounds like you did tie this OFX file to your CC Liability Account. That will be remembered for all future imports from this CC. It also sounds like you may not have set up all the various expense accounts (Groceries, Fuel, Hardware, etc). Those need to be setup as accounts under the Expense top-level account. Then, during the import process, after you pick the file but before doing the actual import step you will see a list of all the transactions. During this first import none of them will show the corresponding expense account. You will need to click on each line and indicate to which account that expense should be assigned. In some cases you will have a payment so up. For the first time you will need to assign this to your Asset/Checking account. This process of assigning accounts to each transaction will teach the import process how to automatically assign them in the future. As the importer learns each transaction (based on the description), it will begin to automatically assign the proper accounts. Occasionally you may need to correct the account assignment or it may see a new description and not know leaving it assigned to the Invalid Account. This is your clue to click on that line (perhaps double click) and make the appropriate assignment. Hopefully this helps you on future imports. --Steve Stephen M Butler stephen.m.butle...@gmail.com kg...@arrl.net 253-350-0166 --- GnuPG Fingerprint: 8A25 9726 D439 758D D846 E5D4 282A 5477 0385 81D8 On 10/18/23 11:09, Edwin Booth wrote: > Hi. New to this. I just downloaded an OFX file for a credit card I have. I > imported it into my “Unsaved Book.” That worked. It is now on the Accounts > Page with an amount under the “Total” column. But there is also a line that > says “Imbalance-USD” with the same same amount under Total. I understand (I > think) that that Imbalance is due to the fact that I have no other account > in there and so there is nothing to balance my CC account with. > > So, I obviously need to enter some new accounts. I haven’t paid off all of > that CC account, but I have paid some of it. The unpaid portion would be > under “Liability” I assume, and the paid part under “Expense.” > > Not sure what to do next. I’m running GnuCash on a MacBook Pro, which I’m > also pretty new at. > > Thanks, > > Edwin > ___ > 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. ___ 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
[GNC] I need basic help
https://lists.gnucash.org/pipermail/gnucash-user/2023-October/109173.html David Cousens wrote: > I would suggest you read at least the introductory sections of the GnuCash Tutorial and Concepts guide under the heading Basics https://www.gnucash.org/viewdoc.phtml?rev=5&lang=C&doc=guide I doubt many people can learn the accounting and software concepts by just reading. New users should actually run GnuCash and enter the tutorial transactions from the guide into a file. ___ 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.
Re: [GNC] I need basic help
Accounting by numbers eh:) On Thu, 19 Oct 2023 at 21:21, flywire wrote: > https://lists.gnucash.org/pipermail/gnucash-user/2023-October/109173.html > David Cousens wrote: > > I would suggest you read at least the introductory sections of the > GnuCash Tutorial and Concepts guide under the heading Basics > https://www.gnucash.org/viewdoc.phtml?rev=5&lang=C&doc=guide > > I doubt many people can learn the accounting and software concepts by just > reading. New users should actually run GnuCash and enter the tutorial > transactions from the guide into a file. > ___ > 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.
Re: [GNC] I need basic help
No doubt but reading is a good point from which to start practising. David On Fri, 2023-10-20 at 07:19 +1100, flywire wrote: > https://lists.gnucash.org/pipermail/gnucash-user/2023-October/109173.html > David Cousens wrote: > > I would suggest you read at least the introductory sections of the > GnuCash Tutorial and Concepts guide under the heading Basics > https://www.gnucash.org/viewdoc.phtml?rev=5&lang=C&doc=guide > > I doubt many people can learn the accounting and software concepts by just > reading. New users should actually run GnuCash and enter the tutorial > transactions from the guide into a file. > ___ > 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.
Re: [GNC] I need basic help
I am working my way through the tutorial. One of the things it says near the beginning is that one should set up a practice file. I need to wrap my head around the whole “debit/credit” concept. Thanks for your help. Everyone’s comments and suggestions are quite helpful. Edwin Sent from Yahoo Mail for iPhone On Thursday, October 19, 2023, 10:31 PM, David Cousens wrote: No doubt but reading is a good point from which to start practising. David On Fri, 2023-10-20 at 07:19 +1100, flywire wrote: > https://lists.gnucash.org/pipermail/gnucash-user/2023-October/109173.html > David Cousens wrote: > > I would suggest you read at least the introductory sections of the > GnuCash Tutorial and Concepts guide under the heading Basics > https://www.gnucash.org/viewdoc.phtml?rev=5⟨=C&doc=guide > > I doubt many people can learn the accounting and software concepts by just > reading. New users should actually run GnuCash and enter the tutorial > transactions from the guide into a file. > ___ > 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. ___ 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.
