Re:GnuCash Tutorial and Concepts Guide
by neilv on Friday October 20, 2023 @06:22AM
(#37954338)
> but how do you keep track of your credit card(s), bank account(s), possibly your significant other's as well, subscriptions, fees, automated payments, cash in/out, taxes, varying income, investment returns, savings, balances on platforms you may use like wise/revolut (for travel) in different currencies, automated "fees" like interest on savings, loans, which may change every now and then, etc?
I do things like that.
All those accounts can be represented. Many of those things are Scheduled Transactions.
When you Reconcile a statement from a bank or something, it'll even prompt you for recurring interest, in case you don't already have a transaction for that (because, e.g., the interest transaction was already there when you imported the OFX/QFX for that statement).
Investments like stocks and funds are tracked by shares, you can easily enter dividend reinvestment, and you can pull data for the current value in whatever primary currency.
You can also mix many world currencies in the same file, and see the totals according to exchange rates, and you can even define your own units and exchange rates for some purposes (which I've done in the past for metals and cryptocurrencies).
You can enter transactions as you go, and when you periodically Import, any transactions you didn't enter will be added. You can check this when you Reconcile a statement.
I do things like that.
All those accounts can be represented. Many of those things are Scheduled Transactions.
When you Reconcile a statement from a bank or something, it'll even prompt you for recurring interest, in case you don't already have a transaction for that (because, e.g., the interest transaction was already there when you imported the OFX/QFX for that statement).
Investments like stocks and funds are tracked by shares, you can easily enter dividend reinvestment, and you can pull data for the current value in whatever primary currency.
You can also mix many world currencies in the same file, and see the totals according to exchange rates, and you can even define your own units and exchange rates for some purposes (which I've done in the past for metals and cryptocurrencies).
You can enter transactions as you go, and when you periodically Import, any transactions you didn't enter will be added. You can check this when you Reconcile a statement.