2014-06-18 GnuCash IRC logs

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04:29:56 <mirko_> Hi, I have an account of type "Credit card" . then I add a transaction e.g 100$ payment to Expense:something . what happens is that the things are inverted meaning that the expense goes to the "Rebate" column instead of "Expense column". is that a bug or I am misunderstanding the meaning of credit card ? with "Bank" or "Cash" it works fine
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06:16:10 <warlord> mirko_: That's because your expense is a Charge, not a payment. The Payment is for when you, well, pay the card! (e.g. Bank -> CC)
06:16:25 <warlord> i.e., you've entered the transaction backwards.
06:21:46 <mirko_> so Change means that you pay and Payment means that you get money in the card. This sounds confusing to me . I though to "Charge the card" and to "pay with the card" . Am I the only one confused ? :)
06:21:51 <mirko_> so Charge means that you pay and Payment means that you get money in the card. This sounds confusing to me . I though to "Charge the card" and to "pay with the card" . Am I the only one confused ? :)
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06:25:19 <warlord> mirko_: yes, you are. A credit card (also called a "charge card" historically) is a liability. You don't "put money on the card". You make charges to the card (when you purchase items) and then you pay the bill at the end of the month.
06:26:25 <mirko_> @warlord BTW if it is as you said I still dont get why the Balance column on a Credit Card gets RED (with negative values). If I got Payed (Payment) the balance should be positive , not red
06:26:25 <gncbot> mirko_: Error: "warlord" is not a valid command.
06:26:50 <mirko_> warlord: BTW if it is as you said I still dont get why the Balance column on a Credit Card gets RED (with negative values). If I got Payed (Payment) the balance should be positive , not red
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06:28:11 <warlord> mirko_: it goes red for one of two reasons: 1) you've entered it backwards (so it has a true negative balance), or 2) you have your preferences (in Edit -> Prefences) set up in a non-default way such that the CC account isn't "reversing" the balance.
06:28:39 <warlord> By default certain "always negative" accounts are reversed (e.g. Credit accounts, like CC)
06:29:53 <warlord> Check out: Edit -> Preferences -> Accounts : Reverse Balanced Accounts
06:30:04 <warlord> (you probably want to select "Credit Accounts")
06:30:13 <mirko_> it it selected
06:30:17 <mirko_> it is selected
06:30:49 <warlord> Then if your CC account is red you've entered your transactions incorrectly.
06:31:14 <warlord> (or you've overpaid your CC)
06:31:28 <warlord> I've honestly never seen my CC go red, so I'm not sure in what case that will happen.
06:31:45 <mirko_> I ve inserted a positive payment of 700$ and a positive charge of 45$ . I then expect to have 650$ in my card (positive not negative)
06:32:47 <warlord> Except that's an overpayment on your credit card..
06:32:53 <warlord> It *is* negative..
06:33:00 <warlord> You've given them a loan of $650
06:33:03 <warlord> So yes, that would be red.
06:34:04 <mirko_> given to who ? :) we said payment column is for the money I get, and those money are coming from Equity. so I am still confused
06:34:32 <warlord> Given to the card provider.
06:34:59 <warlord> The payment column is for when you *PAY THE CARD*.. E.g., you send a check to the CC Company.
06:35:13 <warlord> The Charge column is when you buy something (e.g. groceries)
06:35:37 <warlord> If you put $700 into the payment column, that means you sent a $700 check to the card company, effectively loaning them $650 until you spend it.
06:35:41 <warlord> So the account is negative.
06:35:46 <mirko_> ok, I have to be more clear then. my CC is a prepaid card, so I need a way to INSERT money in that account (like in a normal bank account or wallet)
06:36:03 <warlord> AHHHH!!!! You didn't say that before.
06:36:15 <warlord> A prepard card is NOT a Credit Card..
06:36:27 <warlord> It's not a Liability. Change the account type to Bank or Asset.
06:36:47 <warlord> Sorry, gotta run.. BIAW
06:37:01 <mirko_> sorry I miss many concepts of echonomics LOL
06:37:04 <mirko_> thanks
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15:03:47 <guzzlefry> howdy
15:04:31 <guzzlefry> I'm trying to migrate from Quicken 2011 to GNUCash, is there a sane way to do this?
15:04:37 <guzzlefry> I have roughly 5000 transactions so... :P
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15:13:35 <guzzlefry> Did I miss anything?
15:19:55 <jethrogb> no
15:20:24 <jethrogb> guzzlefry: does this help? http://wiki.gnucash.org/wiki/FAQ#Q:_Which_is_the_best_way_to_import_data_from_Quicken.28TM.29.3F
15:21:06 <guzzlefry> oh I'll try that, thanks
15:22:33 <jethrogb> see also http://www.gnucash.org/docs/v2.6/C/gnucash-help/import-qif.html
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15:45:50 <guzzlefry> well, this is all rather confusing. :P
15:48:07 <guzzlefry> My credit card accounts are showing a positive balance...
15:49:02 <jethrogb> that's because they are liability accounts
15:49:28 <jethrogb> a positive balance on a liability account means you owe that much
15:50:12 <guzzlefry> might be time to bust open the old accounting textbook.
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16:20:47 <jethrogb> I have an OFX file with a <COMMISSION> tag on an <INVBUY> transaction
16:20:54 <jethrogb> but the importer seems to ignore that
16:21:08 <jethrogb> is this known behavior?
16:37:33 <guzzlefry> Does it make sense to have an account per payee?
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16:41:19 <warlord> guzzlefry: a) credit card accounts are by default sign-reversed. You can change that via Edit -> Preferences -> Accounts.
16:41:49 <warlord> b) I dont know how well the OFX importer handles stocks/etc. But if you're importing from Quicken you should be using QIF, not OFX.
16:42:12 <warlord> c) Depending on what you mean, it generally does not make sense to have an account per payee..
16:42:36 <warlord> E.g., you would have Expenses:Groceries, not Expenses:Publix
16:42:47 <warlord> .. you would put "Publix" in the txn description.
16:43:08 <guzzlefry> okay, looks like I can just search on the Description field, and throw Payee in there.
16:43:12 <guzzlefry> err, yeah :)
16:43:16 <warlord> :)
16:43:57 <guzzlefry> Any idea if GNUCash can download transactions from student loan accounts yet?
16:44:23 <warlord> guzzlefry: it all depends on whether the controlling bank supports OFX-DC
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17:08:44 <guzzlefry> What's the proper account/account type for "I have no idea where that money went"? :)
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17:27:36 <warlord> guzzlefry: IANAA but I just use Expenses:Miscellaneous
17:27:59 <warlord> But you should ask your accountant if there is a legal requirement in your locale
17:28:37 <guzzlefry> oh heh, my reporting requirements aren't that extremely.
17:32:40 <warlord> :)
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18:39:01 <guzzlefry> decided to just start fresh on GNUCash with opening balances matching today, and maintain Quicken along side it for tax purpsoes. >_>
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