Yes, you are right…I forgot to cc the list and I will do so by forwarding our exchange of emails to the list and ask Mike Novak to take a look at my questions.
By the way, we have a cultural issue: You apparently are British, and I am American, so that’s why I didn’t get the ‘widget’. Thanks for your help! Anita > On 18 May 2017, at 5:46 PM, Maf. King <[email protected]> wrote: > > Hi Anita. > > There are others on the list who are more familiar with Church & charity > accounting and earmarked donations. (Mike Novak springs to mind), which is > precisely why replies should be kept on-list. > > This sort of thing has come up before. > > I think so. > > The asset accounts would probably be best as sub-accounts of your bank, if > all > the "reserved" funds are held within the same physical bank account(s) > > So > > Asset:Bank:Reserved:Project1 > Asset:Bank:Reserved:Project2 > etc. > > (when you reconcile, check the "include sub-accounts" box) > > Then as you close the books (I think you said you had closed the books & > started a new file), just carry the balances of each account forward and make > the expense payments from thos reserved "pots" as needed. > > Should work. > > Cheers, > Maf. > > > On Thursday, 18 May 2017 15:35:16 BST you wrote: >> Well, let’s begin all over because I am getting the idea that another >> question I have is linked to this same one we have been talking about: >> >> I am the treasurer for a religious organization and we have some funds that >> are ‘earmarked’. That’s what we call them. And that means that people >> contribute funds for a specific purpose and that has to be somehow shown >> against our assets so that those funds which are earmarked cannot be spent >> for anything else. >> >> Therefore, I am trying to be insightful here and if I understand the >> principle you evoke, I could open Asset subaccounts (child accounts) for >> each of the individual earmarked funds and treat them in the same way by >> expending them into the expense accounts that are related. >> >> And, in the case of funds that are carried over from one GC year to the >> next, the balances in the asset subaccounts that have not yet been >> expended, could be then entered in the new year’s asset subaccount as a >> balance forward, and spent against the corresponding expense account. >> >> Please tell me if this is the same thing basically as my previous question >> in which the expense is ‘prepaid’ as you say…. >>> On 18 May 2017, at 4:58 PM, Maf. King <[email protected]> wrote: >>> >>> Hi Anita. >>> >>> I guess widget is english slang - maybe this will help: >>> https://www.merriam-webster.com/dictionary/widget >>> >>> But forget widgets. Henceforth, I'll assume that your pre-paid expense is >>> for curtains. Maybe it is macadamia nuts. It really doesn't matter! >>> >>> When the money left you bank last year, you book a transaction into >>> Assets:PrePaymentToAliceForCurtains - so the bank balance goes down by >>> £600 >>> and there is a matching increase in that asset account. >>> >>> When Alice sends the new curtains, you transfer the money from the Asset >>> to >>> Expense:Curtains, such that the asset goes to zero. >>> >>> hope that clarifies. >>> Maf >>> >>> On Thursday, 18 May 2017 14:32:29 BST Anita Graves wrote: >>>> Maf., if you could explain in more simple terms. >>>> >>>> Create balance forward in Asset subaccount >>>> >>>> Release the funds in expense account >>>> >>>> Do I have that correctly? I have still no idea what you mean by a >>>> widget. >>>> But I need your help still. Thanks so much. > > > -- > Maf. King > PGP Key fingerprint = 8D68 A91F 733B 2C1F 43B7 2B7C E591 E8E1 0DE7 C542 > > > _______________________________________________ gnucash-user mailing list [email protected] https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
