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Split Transactions With Unknown Amounts

by mtupstairs / December 27, 2012 3:56 AM PST

For the record, I use Gnucash as my accounting software. As with most accounting packages, each entry requires one or more offsetting entries (double entry accounting). I have come across something that I have never encountered before. I need to make a split transaction entry, but I don't know the actual amounts of the split.

At the end of the day, my POS system provides me with a daily summary. I get sales by category, total sales in cash and total sales in credit cards. I do not get a split of cash and credit sales at the sales category level. For example:

Daily Sales = $1000
Cash Sales = $700
Credit Sales = $300
Sales Summary:
Liquor Sales = $300
Beer Sales = $600
Food Sales = $100

My credit card sales will not be realized for 2-3 days and need to be recorded in a Accounts Receivable account. Obviously, cash would be realized immediately. In the old paper and pencil days, no problem:
CR Beer Sales = $600
CR Liquor Sales = $300
CR Food Sales = $100
DR Cash = $700
DR AR = $300
Debits = Credits and all is good ( at least I think so).

The issue I have is that as soon I try to credit Beer Sales, for example, Gnucash immediately wants to know what account(s) to debit. Actually all accounting packages I know of work this way. The issue is that I know what accounts to debit, but not how much to debit each one. I am sure there is some easy way to handle this, but I don't know what it is. Can anyone help?

Do I just assign all my credit card sales to one category, such as beer?
Do I evenly split my credit card sales across all three categories?

Oh, and before you ask, there is not a way to get my register to report cash sales versus credit sales at the category level. I already asked the POS company about this option.

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All Answers

Best Answer chosen by mtupstairs

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Re: split
by Kees_B Forum moderator / December 27, 2012 4:19 AM PST

Use a dummy account.
The first 3 posts book a total of 1000 on the debit side of the dummy account. The last 2 book a total of 1000 on the credit side of the dummy account. So at the end of the day, it's zero. And all other accounts are what they should be.

Seems easy.


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What about using AR?
by mtupstairs / December 27, 2012 4:39 AM PST
In reply to: Re: split

That makes sense but brings one question to mind. Instead of the added account, what about putting everything in AR then making one entry to CR the cash out of AR? Would this be an acceptable method? The only concern I see is it would tend to "muddy" the AR account.

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Re: using AR
by Kees_B Forum moderator / December 27, 2012 4:49 AM PST
In reply to: What about using AR?

That should work also. If it's acceptable for you and your accountant, it's accetable.


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