Hello everyone. I have a question that isn't related to a bug or development.
I don't know of any generic gnucash help lists, so I am hoping you'll be
kind enough to answer my question.
I just started using gnucash (1.3.4) and want to use double entry. I am
new to this idea, so I am not entirely sure how to setup the accounts.
(I think I have the basics.)
Here is what I am thinking. (Using Rent as an example.)
I am thinking about setting up some sort of Accounts Payable acount. When I
get the bill for my rent, I would apply the amount to the Expense : Rent account
and transfer from the Accounts Payable account. Then when I actually write the
check to pay the rent I would enter a transaction between the checking account
and the Accounts Payable account.
Is this the correct approach? This seems useful - I would be able to tell how
much I owe in outstanding bills, but it also seems redundant.
If this is the right approach, would it make sense to have a seperate sub account
for each company I get bills from? IE have a sub account for the gas company,
the phone company, the electric company?
Thanks in advance
- Jason
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