On 2023-04-11 07:25, Murugan Muruganandam wrote: > I wanted to input off balance sheet items in gnucash , contingent asset and > contingent liabilities. any of you have done this with existing account > structure?
The easy way is to enter a "transaction" with the amount of the contingent liability as part of the description or memo field. Simply leave the debit and credit amounts blank. Or rather than a separate transaction for the contingency, you could enter it as a split within the "real" transaction -- again, the key is to put amounts in the memo field and not in the debit or credit column. Either way, be sure to include some short string, for ease in finding these transactions later. Obviously GnuCash will not do any sort of arithmetic on the amount in the above. If doing arithmetic with them is a priority, then you can create accounts for the contingencies, but you will need to deselect those accounts in your regular balance sheet reports. You might also want to take this approach if you have a lot of contingencies. If you take the latter approach, you'll also need contingent income and expense accounts; otherwise your transactions will be unbalanced. So _those_ accounts will need to be excluded from your profit and loss reports. Something that would make this easier is to create a top-level account called Contingencies, with contingent assets, liabilities, income, and expense under it. That will make it easier to exclude the contingency accounts. Stan Brown Tehachapi, CA, USA https://BrownMath.com _______________________________________________ gnucash-user mailing list [email protected] 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.
