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This is my first question.

I've been pretty terrible with my finances.

I've recently started using gnucash to get back on track.

So, my issue is, I recently had a bounced debit order in my cheque account because I had insufficient funds.

How do I record this in gnucash?

note: the transaction went through so it was debited, but then it got reversed and was credited back into the account

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  • Not sure I understand the question... If it bounced - it didn't happen, right?
    – littleadv
    Jun 14 at 17:35
  • Thanks for replying, the transaction went through so it was debited, but then it got reversed and was credited back into the account
    – siz m
    Jun 15 at 18:34

1 Answer 1

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There are basically two ways of handling this -

  1. Because the cheque bounced, the overall net effect was that no money left your account in the end. So if you had already entered a transaction in GnuCash, you can now just delete that transaction so that your GnuCash accounts show no movement of funds. To do this, find the relevant transaction in your cheque register in GnuCash, click on it, then DELETE - either by choosing Delete Transaction from the Transactions menu or by clicking on the Delete icon on the icon bar. Please note that you should select the header line for the transaction, not one of the transaction splits, otherwise you'll just delete the split and end up with an unbalanced transaction.

  2. However, you can also have your GnuCash records exactly match your bank's records if you want, meaning that you'll have the original transaction showing the cheque payment that you intended to make, then a second transaction showing the funds coming back into the account when the bank reversed it. The easiest way to achieve this is to select the relevant transaction, then choose the command Duplicate Transaction from the Transactions menu. Enter an appropriate date for the reversing transaction, then manually move every split amount from the debit column into the credit column, and vice versa. You should also enter a useful Description for the transaction.

Either method is acceptable for home accounts, or the accounts for a small organisation.

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    Thanks a lot this answered my answer in a simple and efficient way, I wanted the transaction and the reversal to appear in my account history.
    – siz m
    Jul 10 at 18:31

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