On 8/11/2022 4:27 PM, Adrien Monteleone wrote:
Do you simply want to track activity but are not concerned with
individual share counts and prices?
If that is the case, then a basic account of type Asset would do.
You then make your entries as needed just like the Pen & Paper method.
.........
You only need to use accounts of type Stock if you really want *and
need* (as Michael pointed out) to track cost-basis for tax purposes
when determining gain/loss.
Gnucash AUTOMATES the process.
Even as recently as 4 decades ago, only the largest corporations had
computers assisting their bookkeeping. All the rest of us were still
using pen and ink on paper. Anything you can do with gnucash you could
do in the old days of pen and ink on paper.
As a matter of fact, if you turn on "journal mode" (what you are in when
entering a split transaction) it is very much like the old pen and ink
on paper days EXCEPT for being "autoposting" << the completed "journal"
entry is posted to the "ledger" as opposed to the error prone manual
process of the pen and ink on paper days >>
That's why those of us who learned bookkeeping hack in those pen and ink
on paper days have few problems using software like gnucash.
Michael D Novack
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