Using GnuCash to track where my money goes and what comes in. I have as assets my bank account and "cash in wallet", and many expense accounts for food, gas, water, electricity, clothes, transport/commuting and so on.
I am confused about how to use the "R" field, especially in the context of my credit card.
Right now, when I buy something with my credit card, I make an entry in GnuCash for that day when I bought the item. But sellers never bill my credit card on that day, but several days later. So when in my online website of my credit card company this purchase shows up, I set the "R" field from "n" to "c".
Is this the correct way to do it?
What I thereby try to do is somehow reflect in my books that "using my credit card" and actually "getting billed" are two different states, and I think the "R" field is supposed to reflect that. I read section "4.5. Reconciliation" in the Tutorial & Concepts Guide but do not understand what the actual later reconciliation process (getting from "c" to "y") is for, though.
Also, closely related question, should I then set the day to the date when the seller billed my credit card? I.e. I am confused what the day should best reflect, the day when I made the purchase or the day when the credit card is billed?