Jerry, please remember to send your reply to the whole list. There's really no reason to send it to the list _and_ a particular person, though it does no harm. But sending _only_ to a particular person is not good, for the reasons several people have posted in recent days.
No, I don't see anything wrong with your use of Accrued in this context; in fact I do something similar. You somehow missed this statement of my objecton to calling it an asset: > But Accrued Property Tax isn't an asset, it's a liability. Unless, of > course, you're a government and you're collecting property tax from > residents. Perhaps I wasn't clear, so let me explain a bit. An asset is something you own, such as the cash in your checking account. A liability is a debt, such as your credit-card balance or the amouns of taxes due.(*) With all respect, this is a pretty basic part of bookkeepig. Might I suggest that you do some studying on double-entry bookkeeping. There are a skillion books, but you might begin with section 2. of the GnuCash Tutorial and Concepts Guide. The Guide is here: https://www.gnucash.org/viewdoc.phtml?rev=5&lang=C&doc=guide (*) It's not necessary to accrue taxes due in your personal books. One alternative would be to make no entry on the books till you pay a tax bill, at which point you would book a debit to Expenses:Property Tax and a credit to Assets:Checking Account. This is essentially the cash-basis version of bookkeeping. I prefer the accual basis, and it sounds like you do too. Every month I accrue 1/12 of the annual tax amount as a debit to Expenses:Propery Tax and as a credit to Liabilities:Property tax. When I acrtually pay the tax, that is a debit to Liabilities:Property Tax and a credit to Assets:Checking Account. (There's nothing sacred about those account names, and I haven't bothered to show intermediate-level parent accounts.) Stan Brown Tehachapi, CA, USA https://BrownMath.com On 2026-01-01 08:55, Jerry Criswell (JC) wrote: > Maybe Accrued is a poor choice of words. My property tax is due twice a > year for over $1000 each time. I devide that number by 12 and put that > amount in a savins acct so I have the full amount available when due. > Less painful that way. > > JC > > > On 12/31/25 5:24 PM, Stan Brown (using GC 4.14) wrote: >> On 2025-12-31 14:56, Jerry Criswell (JC) wrote: >>> I have imported a Quicken QIF file into GnuCash and now I have a long >>> list of individual accounts in alphabetic order. Is there a way to re- >>> arrange this list under the basic GC structure? >>> >>> For example: If I add Assets and sub-account Current Assets, is it >>> possible to move Accrued Property Tax and include all transactions under >>> Current Assets? >> Yes, of course. When you go to the Accounts pane and edit an account, >> one of the items in the edit dialog is selection of which account should >> be the parent of the account you're editing. >> >> But Accrued Property Tax isn't an asset, it's a liability. Unless, of >> course, you're a government and you're collecting property tax from >> residents. >> >> 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. _______________________________________________ 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.
