Hi Maf Thanks for the response. I am in the UK.
I am leaning towards having separate accounts, but am still in the trial phase to see if GC is right for me. I think it will be if I can get my head around the quirks. I have an accountant so I shouldn't get too far out of my depth. thanks Matt On 12/07/17 13:43, Maf. King wrote: > On Wednesday, 12 July 2017 12:17:38 BST Matthew wrote: >> Hi Maf >> >> That's just what I was looking for - thanks. >> >> As a best practice, is it better to keep all accounts in one GC File, or >> to split across many? >> >> e.g. should I have one File for wife's account, one for mine, one for >> joint etc? >> >> Regards >> >> Matt > Hi Matt, > > I assume from your email address you are in the UK, as I am. > > The honest answer is : it depends on your circumstances. > > Let me expand on that helpful comment! > > *One* of the purposes of using software such as GC is to allow you to > generate > reports and help you keep your tax position straight. > > If you and your wife have simple tax affairs (ie all income is PAYE taxed > etc) > then you probably don't need to fill in a tax return or deal with anything > more > complicated than the annual p60 tax summary, in which case a combined GC > probably saves work if you transfer money between each others & joint bank > accounts. > > However, I have separate file for me, the wife & the joint accounts - because > we both have tax returns to worry about. In general, separate files for each > legal entity (person, company, partnership, sole trader, trust, estate (ie > executor of a will) etc) is a good idea to keep clearly defined lines and > help > avoid mis-categorisation, but it does mean a little more work. > > I'm not an accountant or lawyer, if you have "complications", it would be > wise > to have a quick chat with a professional about this. > > 0.02 > Maf. > _______________________________________________ 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.
