2013-06-04 GnuCash IRC logs
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14:21:43 <mr-rich> Simple question, I hope. Can an expense accoung have an opening balance? I ask because I use oil heat and the oil company puts thier customers on a budget. I want to be able to track the oil deliveries as well as the payments. Any advice?
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14:32:38 <warlord> mr-rich: sure, although at some level it doesn't make a lot of sense.
14:35:11 <mr-rich> warlord: well, it act sort of like a credit card. You pay a monthly budget and they deliver oil. So, there is an outstanding balance ...
14:36:29 <warlord> mr-rich: why not account for it as an asset, because if you cancel they will refund your deposits, right?
14:36:39 <mr-rich> warlord: I want to be able to track what I owe by putting in the oil deliveries.
14:36:49 <warlord> So each month you transfer from Bank to Asset, then when they deliver oil transfer from Asset to Expense
14:40:19 <mr-rich> warlord: the way it works out is there is most often a balance owed ...
14:40:37 <warlord> Then use a Liability instead of an Asset.
14:43:47 <mr-rich> warlord: so, when I make a payment, decuct it from the liability account? Like a credit card?
14:45:12 <warlord> Like a credit card, yes, but when you make a payment you pay the liability;
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14:48:05 <mr-rich> warlord: Can I change an expense account into a liability account?
14:50:17 <mr-rich> warlord: or do I have to create a new account and alter all the current entries?
14:51:52 <warlord> Umm... You COULD, but you'd have to make it a root account before you change the type, and then you can put it back under Liabilities.
14:57:03 <mr-rich> warlord: best practice? If I change the account type, whould the ledger entries follow the change?
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15:30:08 <mr-rich> I have lines in split transactions that are zero ... How do I remove them?
15:34:16 <mr-rich> nm ... figgured it out ...
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