Tagged Questions
3
votes
2answers
58 views
How to account for Capital Gains (Losses) in double-entry accounting?
After taking an introductory financial accounting class, I decided to use GnuCash to keep track of my personal finances. I have 5 major accounts in my general ledger:
Equity
Currently only used to ...
1
vote
1answer
811 views
Correct method of recording bank transfer in double-entry accounting
What is the correct way to record the transfer of funds between 2 accounts of the same type (ie checking account to savings account)? Since they are both debit accounts, wouldn't crediting one and ...
1
vote
0answers
116 views
What is a Typical Quickbooks Workflow?
I would appreciate a coherent outline of a typical Quickbooks workflow. Basically a list of what should be done and when/where from inception all the way down to reconciliation of downloaded ...
1
vote
1answer
712 views
How to report a bill was paid in journal entry?
I have a couple bills in my name in QuickBooks from business expenses that I paid for personally. I have since paid myself back ("paid the bill") but it was during the early months of my business (no ...
3
votes
4answers
149 views
Help in understanding a basic accounting principle
'An entry which increases an asset account is called a debit.'
So if my bank account is my asset account, when I debit money, money actually goes out so it is a 'decrease'. But the above statement ...
3
votes
1answer
445 views
Accounting treatment for store credit
I just got store credit when I returned some bad juice. This left me wondering. Which accounts receive the entries when a store issues store credit?
For example, when I made the payment for the ...
5
votes
1answer
362 views
GnuCash bookkeeping for account contributions to accounts having annual contribution limits?
I'm using GnuCash, and trying to figure out how to structure a couple of accounts to track contributions to accounts like Roth IRAs and HSAs that have an annual contribution limit that I need to ...
