I agree with Michael. If the OP had separate accounts at the same bank, in Gnucash he could have a parent account of BANK and subaccounts for each separate account (AACT1, ACCT2, ACCT3, etc.). In this case he would receive separate statements for each account and could reconcile each. On the other hand, if as he states, he wants one acct at the bank and subaccount for each type of expenditure he could set up the parent as BANK. This is the same as the 1st case. Under this parent he could set up Gnucash accounts as Virtual ACCT1, Virtual ACCT2, etc. He would receive only 1 bank statement and he could reconcile the parent acct, selecting to include subaccount by checking the box under "Ending Balance". As long as there is no legal requirement to keep the funds in separate accounts I don't see any harm in tracking it this way.
Thank You, Gyle McCollam Gyle McCollam gmccol...@live.com<mailto:gmccol...@gyleshomes.com> email ________________________________ From: gnucash-user <gnucash-user-bounces+gylemc=gmail....@gnucash.org> on behalf of Michael or Penny Novack <stepbystepf...@comcast.net> Sent: Wednesday, March 15, 2023 10:18 AM To: Vincent Dawans <dawa...@gmail.com> Cc: gnucash-user@gnucash.org <gnucash-user@gnucash.org> Subject: Re: [GNC] Can a bank account have sub-accounts? On 3/13/2023 5:47 PM, Vincent Dawans wrote: > This sort of fund accounting is typically taken care of by using the > analytical dimension feature offered by some accounting softwares. > Unfortunately gnuCash doesn't have that feature (yet). > Here is an article somewhat explaining how it works (for a different > accounting package): > https://www.bakertilly.com/insights/tame-your-wild-not-for-profit-chart-of-accounts-with-dimensions That was not the situation this person was asking about. Non-profits often have "restricted" donations, funds donated that are only usable for certain purposes. That restriction can be formal/legal, in which case really should be kept in a segregated account. But a small non-profit might have not enough to bother with that and might have some funds only "morally restricted" (can, in emergencies, used for other purposes). Even when restricted funds kept in a separate account, if a small org/small amounts the several restricted funds might be kept in a single account. Michael D Novack (who has been treasurer of several 501(c)3 orgs _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: 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. _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: 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.
