Re: [GNC] non-currency liabilities

[dann frazier]

On Wed, Aug 5, 2020 at 2:41 PM doncram  wrote:
>
> I said:
> >  I am not an expert about how personal financial accounting should 
> > be done, where that is different from business accounting...
> Another said:   "If you lack the "qualifications" to be a tax advisor, don't 
> say tings
> like that"
> My response:  Well, I don't think i did wrong by suggesting there could be 
> tax consequences of how the educational fund was set up, and by my pointing 
> to 529 plans in the U.S., not yet brought up.  I will try to be clear about 
> what I know and don't know, and think I did okay that way in the 
> qualifications I stated.
>
> Right, though, I surmised, possibly incorrectly, that for the original 
> poster, that unrealized gains/losses in an informal fund should be included 
> in regular income and would be taxable.  It has been pointed out that the 
> gains/losses might not be taxable until stocks are sold. Their question, 
> anyhow, was how to do the accounting in GnuCash, and that is still open IMO.

If it helps set anyone's mind at ease, I didn't take this as tax advice :)

  -dann
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Re: [GNC] non-currency liabilities

[dann frazier]

On Mon, Aug 3, 2020 at 10:26 AM dann frazier  wrote:
>
> On Sun, Aug 2, 2020 at 11:36 AM John Ralls  wrote:
> >
> >
> >
> > > On Aug 1, 2020, at 4:21 PM, dann frazier  wrote:
> > >
> > > Hi,
> > >
> > >  I'm trying to figure out the right way to represent a non-currency
> > > debt in gnucash. That is, I'd like to be able to record that I *owe*
> > > 20 shares of FooFund. I thought I'd just create a Mutual Fund
> > > Liability account, but apparently Mutual Funds and Liabilities are
> > > mutually exclusive. Is that restriction by design?
> > >
> > >  One of the reasons I want to do this is for a college fund. I'd like
> > > to keep track of the fund value in an account, but also "keep it off
> > > the books" in a sense when it comes to Asset vs. Liability
> > > calculations, as I consider it both something I have and something I
> > > owe. I tried doing this by creating an Asset account and a Liability
> > > account that grow together, and cancel each other out, but I couldn't
> > > get that to work since it won't let me make the Liability a security.
> > > Is there a better way to do this?
> >
> > Yes, only Asset accounts of type Stock and Fund can have non-currency 
> > commodities. GnuCash doesn't support barter.
> >
> > You could do that with two Asset accounts, one with a positive balance and 
> > the other with an equal negative balance.
>
> I think I tried that before but ran into another issue, but I don't
> recall what it was. Let me give it another shot.

I finally got around to setting this up, and the negative asset model
does indeed work for my purpose. I think the issue I had before was
just that I wanted them to behave as liabilities.  Thanks for the
advice!

  -dann
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Re: [GNC] non-currency liabilities

[doncram]

I said:
>  I am not an expert about how personal financial accounting
should be done, where that is different from business accounting...
Another said:   "If you lack the "qualifications" to be a tax advisor, don't
say tings
like that"
My response:  Well, I don't think i did wrong by suggesting there could be
tax consequences of how the educational fund was set up, and by my pointing
to 529 plans in the U.S., not yet brought up.  I will try to be clear about
what I know and don't know, and think I did okay that way in the
qualifications I stated.

Right, though, I surmised, possibly incorrectly, that for the original
poster, that unrealized gains/losses in an informal fund should be included
in regular income and would be taxable.  It has been pointed out that the
gains/losses might not be taxable until stocks are sold. Their question,
anyhow, was how to do the accounting in GnuCash, and that is still open IMO.

--Don

P.S. Feel free to skip from here on, in which I muse about use of
Other Comprehensive Income reporting, that seems relevant to me for this
application.
For a business with stock investments, the taxability and reporting of
unrealized gains/losses of stocks depends on how they are classified.
https://www.ais-cpa.com/sample/ is one source summarizing.  If classified
as "Trading Securities", then unrealized gains/losses are to be included in
current period regular income.  I would think that the accounting for this
would be straightforward in GnuCash, but I'd like to see what it looks like
exactly.  Anyhow a separate spreadsheet might be used to track the
component stocks in a special fund treated as Trading Securities, and
GnuCash journal entries might be:
February 15: Purchase 15 shares at $10/share and add to Special Fund
Special Fund$150
Checking account $150
December 31: Recognize unrealized gain from shares now being worth $17:
 Special Fund $20
 Gains/Losses from Special Fund $20
and the Gains/Losses from Special Fund would be a regular Income account.

If classified as "Available for Sale Securities", then unrealized
gains/losses are NOT included in regular income, but rather are reported in
what is called "other comprehensive income", which appears in a
Comprehensive Income Statement, a different statement than (or it could be
considered to be a continuation of)  the regular Income Statement report.
Which GnuCash and most or all versions of Quickbooks AFAIK do not currently
directly support.  To support it, "Other Comprehensive Income" would need
to be a defined type of account.  In GnuCash, the only income and expense
types of accounts are just "Income" and "Expense".  In a version of
QuickBooks, there are "Income", "Other Income", "Expense", "Cost of Goods
Sold", and "Other Expense". The "Other Income" would appear near the bottom
of an Income Statement but would be included in the bottomline Income.
"Other Income" ("Other Expense") are for "Money received (spent) for
something other than normal business operations, such as interest income
(corporate taxes)" and these are not OCI accounts.  I suppose the absence
of explicit OCI account type might be worked around, by using "OCI" in the
account names where relevant, and similiarly defining the corresponding
shareholder equity account(s), but i am not completely sure, and it would
nice if GnuCash just allowed for these explicitly.

February 15: Purchase 15 shares at $10/share and add to Special Fund
Special Fund   $150
Checking account
 $150
December 31: Recognize unrealized gain from shares now being worth $17,
into OCI:
 Special Fund$20
 OCI Unrealized Gain/Loss in Special Fund  $20
The "  OCI Unrealized Gain/Loss in Special Fund" would not appear in
regular Income, but would show in a Comprehensive Income statement.

For another example of where OCI reporting would help, the BotanyBayGarden
nonprofit has a need for it.  It wants to have a regular income statement
that includes donation and other revenues and its various operational
expenses, but which excludes donations to an informal endowment and
excludes gains/losses there.  Those donations and gains/losses should
appear as OCI items in a Comprehensive Income Statement.

For an individual's financial statements done properly, are there not
corresponding complications, where some stock investments are treated like
Available For Sale Securities and others are treated like Trading
Securities?   It would seem to me that showing not-yet-taxed unrealized
gains/losses explicitly, like for the business example above, would be
helpful in the individual's reporting.   I dunno, is there coverage of this
in GnuCash's web documentation or elsewhere?
--Don

On Mon, Aug 3, 2020 at 10:39 PM dann frazier  wrote:

> On Sun, Aug 2, 2020 at 11:36 AM John 

Re: [GNC] non-currency liabilities

[dann frazier]

On Sun, Aug 2, 2020 at 11:36 AM John Ralls  wrote:
>
>
>
> > On Aug 1, 2020, at 4:21 PM, dann frazier  wrote:
> >
> > Hi,
> >
> >  I'm trying to figure out the right way to represent a non-currency
> > debt in gnucash. That is, I'd like to be able to record that I *owe*
> > 20 shares of FooFund. I thought I'd just create a Mutual Fund
> > Liability account, but apparently Mutual Funds and Liabilities are
> > mutually exclusive. Is that restriction by design?
> >
> >  One of the reasons I want to do this is for a college fund. I'd like
> > to keep track of the fund value in an account, but also "keep it off
> > the books" in a sense when it comes to Asset vs. Liability
> > calculations, as I consider it both something I have and something I
> > owe. I tried doing this by creating an Asset account and a Liability
> > account that grow together, and cancel each other out, but I couldn't
> > get that to work since it won't let me make the Liability a security.
> > Is there a better way to do this?
>
> Yes, only Asset accounts of type Stock and Fund can have non-currency 
> commodities. GnuCash doesn't support barter.
>
> You could do that with two Asset accounts, one with a positive balance and 
> the other with an equal negative balance.

I think I tried that before but ran into another issue, but I don't
recall what it was. Let me give it another shot.

> However, if what you're modeling is your kid's college fund it would be more 
> correct to create a separate book for it, particularly if it's a 
> tax-advantaged fund like a US 529 fund or a court-supervised entity like a 
> trust or guardianship.

Yeah - you're probably right - but I assume I'd then have to deal with
contributions separately in both books, which would be a bit
cumbersome.

  -dann
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Re: [GNC] non-currency liabilities

[Stan Brown]

On 2020-08-02 17:39, Michael or Penny Novack wrote:
> On 8/2/2020 8:00 PM, doncram wrote:
>>  If done that way in GnuCash, then increases (decreases)
>> in value from stock market fluctuations would be included as gains
>> (losses)
>> within the regular Income Statement of each period.  And for tax
>> purposes,
>> that would be proper:  you will have to pay income tax on the gains,
>> because it is only an informal, personally-defined thing of yours.
> 
> Most people are able to report personal income on the "cash basis" so
> gains from appreciated assets not any sort of income until realized and
> then may be either regular income or capital gains 

Well, yes and no. In the US, it's different for different types of
assets. (I assume we are not talking about a qualified retirement
account, which has different rules.) For example, shares of stock
typically pay dividends, and those are taxable when received. Mutual
funds probably pay dividends, and may also realize capital gains as they
buy and sell shares of stock, and these are also taxable to the owners
of shares in the mutual fund, even though they have not sold any shares
of the mutual fund. But, as you say, rises in the share price of stock
or mutual funds are not taxable until the gains are "realized" by
selling the shares for more than one paid.

> and may even depend
> on how disposed of << appreciated asset donated to charity and depending
> on type of asset, maybe only taxed conditionally*>> ALSO -- he said this
> was for a "college fund". There are tax advantage possibilities involved
> with that, too.

That is an excellent, excellent point. The person setting up this fund
should look at
https://www.sec.gov/reportspubs/investor-publications/investorpubsintro529htm.html
as a starting point.

> AND --- I will add, I was referring to the US. Anything taxes are
> involved always must be in reference to some specific jurisdiction.

Absolutely!  (And isn't it interesting that in the US we have special
tax advantages for savings for health care, or education, or retirement,
whereas civilized countries cover these things out of the revenue from
taxes?)

> Michael D Novack
> 
> * Thus whether capital gains from sale of primary residence is taxed
> depends on whether one has bought another primary residence within a
> certain amount of time.

And on the amount of profit on the sale;
And on whether one had lived in the sold residence a certain time;
And probably other things that don't come immediately to mind.

Fortunately, the IRS website, though not exactly light reading, is
comprehensible by almost anyone who is willing to take a deep breath and
wade through it.

-- 
Regards,
Stan Brown
Tehachapi, CA, USA
https://BrownMath.com
https://OakRoadSystems.com
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Re: [GNC] non-currency liabilities

[Michael or Penny Novack]

On 8/2/2020 8:00 PM, doncram wrote:

 I am not an expert about how personal financial
accounting should be done, where that is different from business
accounting...



 If done that way in GnuCash, then increases (decreases)
in value from stock market fluctuations would be included as gains (losses)
within the regular Income Statement of each period.  And for tax purposes,
that would be proper:  you will have to pay income tax on the gains,
because it is only an informal, personally-defined thing of yours.


If you lack the "qualifications" to be a tax advisor, don't say tings 
like that


Most people are able to report personal income on the "cash basis" so 
gains from appreciated assets not any sort of income until realized and 
then may be either regular income or capital gains and may even depend 
on how disposed of << appreciated asset donated to charity and depending 
on type of asset, maybe only taxed conditionally*>> ALSO -- he said this 
was for a "college fund". There are tax advantage possibilities involved 
with that, too.


AND --- I will add, I was referring to the US. Anything taxes are 
involved always must be in reference to some specific jurisdiction.


Michael D Novack

* Thus whether capital gains from sale of primary residence is taxed 
depends on whether one has bought another primary residence within a 
certain amount of time.




Michael D Novack

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Re: [GNC] non-currency liabilities

[doncram]

To Dann F et al.  -- In my opinion, the informal College Fund you describe
is neither a liability nor a short-term asset, but rather is a long-term
asset, in my opinion.  I am not an expert about how personal financial
accounting should be done, where that is different from business
accounting.  But is like retirement funds and I think it should be
accounted for the same way, which is (i think):  just stated as one of your
assets, but clearly labelled as to its purpose.  I think it should be
included under a Long Term Assets "placeholder account" in GnuCash. I'd
like to see some examples of proper statements for individual financial
reporting though.  If done that way in GnuCash, then increases (decreases)
in value from stock market fluctuations would be included as gains (losses)
within the regular Income Statement of each period.  And for tax purposes,
that would be proper:  you will have to pay income tax on the gains,
because it is only an informal, personally-defined thing of yours.

For businesses, in more full-fledged accounting systems, GAAP accounting
would allow the gains (losses) to be kept aside, and only reported in what
is called the Other Comprehensive Income statement.

If you really had a formal, contractual, legal obligation to pay for the
entire college education of a current minor, I suppose that could be
reflected in a long-term liability, at the estimated present value of the
future cost which must be paid.  Like how for firms having a defined
benefit pension program will have an estimated Pension Liability.  And they
will also have a Pension Assets account, which hopefully should be similar
in magnitude.  And there are requirements for how to show re-estimates of
the pension liability, etc.  But in your case, I don't believe you have an
absolute obligation to pay all the college costs no matter what they might
turn out to be;  it sounds like you are taking on a moral obligation to pay
whatever funds have accumulated in your college fund account.

If the purpose of creating a liability would be to highlight the value and
its restricted purpose, i don't think that is necessary:  statement of the
asset, properly labelled as to its purpose, suffices.

But better than doing an informal program of your own, if u are in the U.S.
you could get tax benefits from using a formal 529 plan:
"529 plans are named after Section 529 of the Internal Revenue Code (IRC),
which was added in 1996 to authorize tax-free status for 'qualified tuition
programs'. Earnings in 529 plans accumulate on a tax-deferred basis and
distributions are not taxed federally when used for qualified higher
education expenses
.
The definition of qualified higher education expenses was expanded in 2015
to include computers, in 2017 to include up to $10,000 annually in K-12
tuition and in 2019 to include student loan payments and costs of
apprenticeship programs. " from SavingForCollege.com

Somewhat similarly, a nonprofit may have a restricted asset, e.g. the
invested funds received from a foundation or other donor, which may only be
spent for a specified purpose.  Simple accounting for this (as opposed to
full formal Funds Flow Accounting for nonprofits and governments which is
more complicated) would show the asset, sensibly labelled, on a regular
balance sheet for the nonprofit.  If job costing were available, it would
be designated as a job, and in each period an income statement (or Revenues
less Expenses) statement would show new receipts of funds from the donor
and perhaps interest earnings, and it would document eligible expenses.

Hope this helps
Don

On Sun, Aug 2, 2020 at 4:53 PM Stephen M. Butler  wrote:

> On 8/2/20 8:35 AM, dann frazier wrote:
> > Thanks David - yeah, negative share balances are possible. But it's
> > seemingly not possible to track shares in a Liability account.
>
>
> You can always treat Liabilities as a negative Asset.
>
>
> >
> > On Sun, Aug 2, 2020 at 2:41 AM David Carlson
> >  wrote:
> >> I meant no requirement to have a positive share balance.  You should be
> able to have a negative share balance in a security account.
> >>
> >> On Sun, Aug 2, 2020 at 3:37 AM David Carlson <
> david.carlson@gmail.com> wrote:
> >>> I believe there is no restriction to have a positive number of shares
> of a security.  After all, it is common to sell stock short (Against the
> box) or not.
> >>>
> >>> David Carlson
> >>>
> >>> On Sun, Aug 2, 2020 at 2:48 AM dann frazier  wrote:
>  Hi,
> 
>    I'm trying to figure out the right way to represent a non-currency
>  debt in gnucash. That is, I'd like to be able to record that I *owe*
>  20 shares of FooFund. I thought I'd just create a Mutual Fund
>  Liability account, but apparently Mutual Funds and Liabilities are
>  mutually exclusive. Is that restriction by design?
> 
>    One of the reasons I want to do this is for a college fund. I'd like

Re: [GNC] non-currency liabilities

[Stephen M. Butler]

On 8/2/20 8:35 AM, dann frazier wrote:
> Thanks David - yeah, negative share balances are possible. But it's
> seemingly not possible to track shares in a Liability account.


You can always treat Liabilities as a negative Asset. 


>
> On Sun, Aug 2, 2020 at 2:41 AM David Carlson
>  wrote:
>> I meant no requirement to have a positive share balance.  You should be able 
>> to have a negative share balance in a security account.
>>
>> On Sun, Aug 2, 2020 at 3:37 AM David Carlson  
>> wrote:
>>> I believe there is no restriction to have a positive number of shares of a 
>>> security.  After all, it is common to sell stock short (Against the box) or 
>>> not.
>>>
>>> David Carlson
>>>
>>> On Sun, Aug 2, 2020 at 2:48 AM dann frazier  wrote:
 Hi,

   I'm trying to figure out the right way to represent a non-currency
 debt in gnucash. That is, I'd like to be able to record that I *owe*
 20 shares of FooFund. I thought I'd just create a Mutual Fund
 Liability account, but apparently Mutual Funds and Liabilities are
 mutually exclusive. Is that restriction by design?

   One of the reasons I want to do this is for a college fund. I'd like
 to keep track of the fund value in an account, but also "keep it off
 the books" in a sense when it comes to Asset vs. Liability
 calculations, as I consider it both something I have and something I
 owe. I tried doing this by creating an Asset account and a Liability
 account that grow together, and cancel each other out, but I couldn't
 get that to work since it won't let me make the Liability a security.
 Is there a better way to do this?

   -dann
 ___

-- 
Stephen M Butler, PMP, PSM
stephen.m.butle...@gmail.com
kg...@arrl.net
253-350-0166
---
GnuPG Fingerprint:  8A25 9726 D439 758D D846 E5D4 282A 5477 0385 81D8

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Re: [GNC] non-currency liabilities

[dann frazier]

Thanks David - yeah, negative share balances are possible. But it's
seemingly not possible to track shares in a Liability account.

On Sun, Aug 2, 2020 at 2:41 AM David Carlson
 wrote:
>
> I meant no requirement to have a positive share balance.  You should be able 
> to have a negative share balance in a security account.
>
> On Sun, Aug 2, 2020 at 3:37 AM David Carlson  
> wrote:
>>
>> I believe there is no restriction to have a positive number of shares of a 
>> security.  After all, it is common to sell stock short (Against the box) or 
>> not.
>>
>> David Carlson
>>
>> On Sun, Aug 2, 2020 at 2:48 AM dann frazier  wrote:
>>>
>>> Hi,
>>>
>>>   I'm trying to figure out the right way to represent a non-currency
>>> debt in gnucash. That is, I'd like to be able to record that I *owe*
>>> 20 shares of FooFund. I thought I'd just create a Mutual Fund
>>> Liability account, but apparently Mutual Funds and Liabilities are
>>> mutually exclusive. Is that restriction by design?
>>>
>>>   One of the reasons I want to do this is for a college fund. I'd like
>>> to keep track of the fund value in an account, but also "keep it off
>>> the books" in a sense when it comes to Asset vs. Liability
>>> calculations, as I consider it both something I have and something I
>>> owe. I tried doing this by creating an Asset account and a Liability
>>> account that grow together, and cancel each other out, but I couldn't
>>> get that to work since it won't let me make the Liability a security.
>>> Is there a better way to do this?
>>>
>>>   -dann
>>> ___
>>> gnucash-user mailing list
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>>> 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 
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>>> -
>>> Please remember to CC this list on all your replies.
>>> You can do this by using Reply-To-List or Reply-All.
>>
>>
>>
>> --
>> David Carlson
>
>
>
> --
> David Carlson
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Re: [GNC] non-currency liabilities

[John Ralls]

> On Aug 1, 2020, at 4:21 PM, dann frazier  wrote:
> 
> Hi,
> 
>  I'm trying to figure out the right way to represent a non-currency
> debt in gnucash. That is, I'd like to be able to record that I *owe*
> 20 shares of FooFund. I thought I'd just create a Mutual Fund
> Liability account, but apparently Mutual Funds and Liabilities are
> mutually exclusive. Is that restriction by design?
> 
>  One of the reasons I want to do this is for a college fund. I'd like
> to keep track of the fund value in an account, but also "keep it off
> the books" in a sense when it comes to Asset vs. Liability
> calculations, as I consider it both something I have and something I
> owe. I tried doing this by creating an Asset account and a Liability
> account that grow together, and cancel each other out, but I couldn't
> get that to work since it won't let me make the Liability a security.
> Is there a better way to do this?

Yes, only Asset accounts of type Stock and Fund can have non-currency 
commodities. GnuCash doesn't support barter.

You could do that with two Asset accounts, one with a positive balance and the 
other with an equal negative balance.

However, if what you're modeling is your kid's college fund it would be more 
correct to create a separate book for it, particularly if it's a tax-advantaged 
fund like a US 529 fund or a court-supervised entity like a trust or 
guardianship.

Regards,
John Ralls
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Re: [GNC] non-currency liabilities

[Michael or Penny Novack]

On 8/2/2020 4:37 AM, David Carlson wrote:

I believe there is no restriction to have a positive number of shares of a
security.  After all, it is common to sell stock short (Against the box) or
not.

We must not have many "bears" among our gnucash users. I imagine this is 
how you would have to deal with a "short" securities" transaction.


Michael

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Re: [GNC] non-currency liabilities

[David Carlson]

I meant no requirement to have a positive share balance.  You should be
able to have a negative share balance in a security account.

On Sun, Aug 2, 2020 at 3:37 AM David Carlson 
wrote:

> I believe there is no restriction to have a positive number of shares of a
> security.  After all, it is common to sell stock short (Against the box) or
> not.
>
> David Carlson
>
> On Sun, Aug 2, 2020 at 2:48 AM dann frazier  wrote:
>
>> Hi,
>>
>>   I'm trying to figure out the right way to represent a non-currency
>> debt in gnucash. That is, I'd like to be able to record that I *owe*
>> 20 shares of FooFund. I thought I'd just create a Mutual Fund
>> Liability account, but apparently Mutual Funds and Liabilities are
>> mutually exclusive. Is that restriction by design?
>>
>>   One of the reasons I want to do this is for a college fund. I'd like
>> to keep track of the fund value in an account, but also "keep it off
>> the books" in a sense when it comes to Asset vs. Liability
>> calculations, as I consider it both something I have and something I
>> owe. I tried doing this by creating an Asset account and a Liability
>> account that grow together, and cancel each other out, but I couldn't
>> get that to work since it won't let me make the Liability a security.
>> Is there a better way to do this?
>>
>>   -dann
>> ___
>> gnucash-user mailing list
>> gnucash-user@gnucash.org
>> To update your subscription preferences or to unsubscribe:
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>>
>
>
> --
> David Carlson
>


-- 
David Carlson
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Re: [GNC] non-currency liabilities

[David Carlson]

I believe there is no restriction to have a positive number of shares of a
security.  After all, it is common to sell stock short (Against the box) or
not.

David Carlson

On Sun, Aug 2, 2020 at 2:48 AM dann frazier  wrote:

> Hi,
>
>   I'm trying to figure out the right way to represent a non-currency
> debt in gnucash. That is, I'd like to be able to record that I *owe*
> 20 shares of FooFund. I thought I'd just create a Mutual Fund
> Liability account, but apparently Mutual Funds and Liabilities are
> mutually exclusive. Is that restriction by design?
>
>   One of the reasons I want to do this is for a college fund. I'd like
> to keep track of the fund value in an account, but also "keep it off
> the books" in a sense when it comes to Asset vs. Liability
> calculations, as I consider it both something I have and something I
> owe. I tried doing this by creating an Asset account and a Liability
> account that grow together, and cancel each other out, but I couldn't
> get that to work since it won't let me make the Liability a security.
> Is there a better way to do this?
>
>   -dann
> ___
> 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.
>


-- 
David Carlson
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[GNC] non-currency liabilities

[dann frazier]

Hi,

  I'm trying to figure out the right way to represent a non-currency
debt in gnucash. That is, I'd like to be able to record that I *owe*
20 shares of FooFund. I thought I'd just create a Mutual Fund
Liability account, but apparently Mutual Funds and Liabilities are
mutually exclusive. Is that restriction by design?

  One of the reasons I want to do this is for a college fund. I'd like
to keep track of the fund value in an account, but also "keep it off
the books" in a sense when it comes to Asset vs. Liability
calculations, as I consider it both something I have and something I
owe. I tried doing this by creating an Asset account and a Liability
account that grow together, and cancel each other out, but I couldn't
get that to work since it won't let me make the Liability a security.
Is there a better way to do this?

  -dann
___
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