When I make a payment with a credit card the flow is like this: Liability:Credit Card -> Expense:Rainy Day:ClothingĪsset:Rainy Day:Clothing -> Asset:CC Payment Credit card rarely gets used (overseas payents, better exchange rate). I have three accounts, checking, credit and wallet. GnuCash is an accountancy tool and uses accountancy concepts Understanding the five different types of account is key to understanding how to set up envelope budgeting.Īlso a YNAB refuge and I didn't read the tutorial. Hi, without wising to sound condescending if you haven't already, read the tutorial up until Business accounting. Can I just ignore this without ill-effect? If income is unassigned, it gets an "Imbalance" account. I do not really care about tracking where income comes from. Are there any tutorials or videos that document how to set it up? Does anyone else here use YNAB methodology with GnuCash? Budget "Power" account is now negative $5 (would prefer this to be positive $5) Visa balance is $45 (would prefer that this display negative $45) Expense/Bills/Power account balance is negative $45 (why?) * Budget $50 to power bill from Income account Checking account balance raises by $1000 * Salary Income transaction of $1000, assigned to Checking Account With the above setup, an example workflow: However, I would still like there to be real accounts listed with actual balances in checking, saving, and credit cards, etc. I would like to have a "To be budgeted" account that takes all income and assets and, from there, is subdivided into budgeting accounts until the amount is zero. * Salary income transaction that is assigned to checking account One complicating aspect is the GnuCash "budget" tool, which seems redundant if the user is using the envelope method for budgeting-but I am not sure I understand how to use the budget tool. I'd like to replicate what YNAB does with money, which is basically categorize all assets and income each month into "Categories" (I think they'll be "Accounts" in GnuCash), and divvy these monies out into categories until the amount to be budgeted is zero. I've been reading about the basic concepts and watched some tutorial videos, but still have some questions. With YNAB changing their business model to subscription-based, I am looking for alternatives and came across GnuCash.
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