On 12/1/2019 6:23 PM, David Cousens wrote:
Rob
AFAIK there is no equivalent of classes.
In Gnucash you can use the sub-account capability to provide the separation.
e.g. Under Income you can have a subaccount for each revenue stream and
similarly under Expenses if you need to match expenses to a particular
revenue stream. You could also separate assets and liabilities in the same
manner if necessary.......
BUT, there is another consideration for this particular situation, the
LLC owning several "businesses". You might want to sell one of the
businesses. So although perhaps a little more work, I would probably
opt for separate books. Of course the LLC itself would have a set of
books, each of these businesses being an "investment" (an investment in
a separate entity; though in this case not legally separate).
That way the entire books of one of these "income streams" could be
shown to a prospective buyer.
BTW, in my case I keep books for VIRTUAL entities. For example, I took
money and installed a solar system. I want to see how this is working
out as if it were an investment. Thus an entity (a virtual one) that
borrowed its capital from us, pays interest on the loan, pays off loan
principle, etc. Has some pseudo expenses like effect on my taxes (sale
of SRECs taxable) and effect on insurance premium, etc. Has pseudo
income like tax credits, portion of our electric bill we DON'T have to
pay, etc.
Michael D Novack
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