On 6/20/2017 9:09 AM, Andrey Shalaurov wrote:
Hi,
I have two questions:
1. Can this software be used for a small business that is a bank /
financial institution - all accounts have to be flipped from bank's point
of view e.g. Loans are Assets, Deposits are Liabilities (can the software
be re-configured as such)?
I think you misunderstand the issues.
NOTHING needs to be "flipped". When most people use gnucash, they are
not a bank, so for them a "bank account" is an asset. But if you are a
bank, the "bank accounts" of depositors are not "bank accounts" for you
<< you are correct, they are liabilities for you >>
What I suggest is that you need to get a text covering "accounting for
banks/financial institutions" which will show you WHAT you will be
doing. Then you come to us to tell you HOW to implement that WHAT when
using gnucash. You need to know what your books would look like (say you
were keeping them the old fashioned way, pen and ink on accounting
paper) and then we show you what parts of that gnucash will automate.
Michael D Novack
PS: To give you one example, where because I never looked at how a BANK
keeps its books, I would have to look up how a bank handles ITS OWN
checking account(s) << like it uses for payroll, paying the utility
bills, etc. >>
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