2.2 Paying for expenses

Now that we have an asset account, we can use it to pay for our expenses.

First, we add an expense account, say an account for our Rent.

(Checking) :> aa
Account: Rent
0: Expense
1: Income
2: Asset
3: Liability
Type: 0
Opening Balance: 0
(Rent) :>

Now, to pay the Rent. t is the command to transfer money from one account to another. Making a payment is transferring money from your asset accounts to your expense accounts.

(Rent) :> t
 0: Checking
 1: Rent
To Account: 1
 0: Checking
 1: Rent
From Account: 0
Amount: 2000
Description: The rent
Day: 
Year [2019]: 
Month [4]: 
Day [30]:
(Checking) :>

You can also use the spend command which is like the t command except that it only lists assets in the from account and expenses in the to account. This is useful when you have lots of accounts. We could have done the following with an equivalent result:

(Rent) :> spend
 2: Rent
To Account: 2
 0: Cash
 1: Checking
From Account: 1
Amount: 2000
Description: The rent
Day:
Year [2020]:
Month [1]:
Day [22]:
(Checking) :>