Re: [GNC] "Stock" Liabilities do not show up under liabilities in Balance Sheet report
Thanks - I tried that but then can only enter transactions where the units are
USD, and I really must track them in my books as units of the stock. If I have
to deal with it being show up in "Assets" section of the balance sheet as a
negative asset instead of under "liabilities" as a positive liability, then if
thats the only way I can track them internally as stock, then I'll just take
it. Thanks very much for your replies here.
On Sunday, January 26, 2020, 11:32:47 PM CST, David Cousens
wrote:
Hi Bo,
I think I understand what has happened. Accounts of type stock should have an
Asset account as their parent account not
a Liability account. When you are issued stock as unpaid the Liability account
will simply be an account of type
Liability not of type Stock. A possible account tree to cover this might look
like (":" denoting a subaccount).
Assets:Investments:Brokerage:ABCCorp
Liabilities:Investments:Unpaid Stock:ABCCorp
Here Assets, Assets:Investments and Assets Investments:Brokerage will be
accounts of type Asset and ABCcorp is of type
Stock and Liabilities, Liabilities:Investments, Liabilities:Investments:Unpaid
Stock and
Liabilities:Investments:Unpaid Stock:ABCCorp are all accounts of type Liability.
The type and parent are set in the Edit Account dialog. You should be able to
change them in the dialog
A typical transaction on issues of 100 shares the stock with a face value of
$10 might look something like:
no Price Debit Credit
Assets:Investments:Brokerage:ABCCorp 100 $10 $1000
Liabilities:Investments:Unpaid Stock:ABCCorp $1000
With any luck when you have them setup like this they should then appear
correctly in the Balance Sheet. Give it a try
and let us know how you go.
David
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Re: [GNC] "Stock" Liabilities do not show up under liabilities in Balance Sheet report
Hi yes exactly - it its the other case you describe for "unpaid" issues. Under report options I select all accounts, and those liabilities do show up - but they show up in the assets section at the top of the report (where the calculation correctly subtracts them from my assets). All that is at the bottom of my balance sheet report is A/P and Credit Card accounts. I think it has something to do with how I created a "stock" account under the top-level Liabilites account, and then how I must record transactions - for example if I am to show receipt of 100 units, I will enter "-100" under the "Tot Shares" column for the liability account split, and then a "+100" under the "Tot Shares" for the asset account side split. But then the liability doesnt show up under liabilities - it shows up in the top section "Assets" (as a negative value). So its not really off at all as far as the numbers/maths go, its just weird that its showing up top. On Sunday Jan 26, 2020; 5:47pm CST, David Cousens wrote: The situation you are describing is not clear. By stock do you mean shares which are issued to you but which you have not purchased, perhaps as part of a stock option? It is not clear why you would record this with splits to both Assets and Lliabilities. You mention "their liability account". Their liability account should not appear in your books , only liabilities, that is obligations you have to pay someone, that you have incurred. One would normally record any acquistion of stock as an asset against equity, either the temporary income and expense accounts of equity or a permanent equity account or as a transfer from another asset account. You would normally only incur a liability if you borrowed the money to purchase the stock for example, but you borrow it not the asset you purchase with it. The other case could be if the stock was "unpaid" shares for example where you receive an issue, but may be called upon to pay for them at a future date. Then it may be appropriate to record that future possible demand for payment as a liability. In this case the asset value is neutral in your accounts (apart from capital gains and dividends) and it should be included in both the totals for assets and liabilities. You may need to check which accounts are selected for inclusion in the Balance sheet report and which are selected to be displayed explicitly in the report in the Edit->Report Options. You may have to describe the situation in a bit more detail but this may really an accounting question and perhaps you should seek professional advice in your jurisdiction on how to record the particular situation. David Cousens - David Cousens -- Sent from: http://gnucash.1415818.n4.nabble.com/GnuCash-User-f1415819.html ___ gnucash-user mailing list [hidden email] To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - 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 If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
[GNC] "Stock" Liabilities do not show up under liabilities in Balance Sheet report
Running 3.7 on windows. I have a situation where external orgs gives me their "stock" (not really stock, not really a currency either) and I record the transaction where one split is their stock account under liabilities, and the other split is my "asset" stock account. To get this to work correctly I must record the transaction with my asset stock with a positive number in the "Tot Shares" column, and their split for their liability account gets a negative number. Things then balance out perfectly. So when I do a Balance Sheet report, it makes all their pieces show under "Assets", where then my Total Assets is really a partial figure in the aggregated "Total Liabilities & Equity" section at the bottom. Is this a bug? ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
[GNC] Tracking Currency Investments
Trying to figure out sect 12.5 of the docs: https://www.gnucash.org/docs/v3/C/gnucash-guide/currency_invest1.html But for the life of me I cannot get things to balance correctly for the sell journal entry. The purchase entry is quite straightforward, but for the sell entry as described by 12.5.2 I just cannot figure it out as the accounts and units (units of USD versus XXX) dont quite make sense as the capital gains seem to be denominated by the XXX currency. As well, the "Sold Amount" value seems to be used in both an USD account and an XXX account which also doesnt make sense. Does anyone have any good examples/screenshot of a pair of journal entries for a currency buy/sell set that includes how to handle the capital gains? ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
