Friends: I first posted to this list back on August 4 and I thank you all for
your help. I believe I have my solution; it is working and is just what I want.
Warning: those of you who are real accountants will probably be appalled and
the rest of you should probably not try this at home.
Here
Don,
What I presented was a way to track something that GnuCash isn't set up
for. There have been prior posts discussing systems like Envelope Method
budgeting and segregating/earmarking funds. These would be cases where
the real-world accounts need to be kept unchanged, but the user wants to
On 8/8/2020 11:00 PM, Adrien Monteleone wrote:
You don't *need* to close a month or year, though you certainly can if
you want to.
In the old days of pen and paper, 'closing' was the process of
migrating balances from temporary accounts to Equity in preparation of
reports.
With computers,
You don't *need* to close a month or year, though you certainly can if
you want to.
In the old days of pen and paper, 'closing' was the process of migrating
balances from temporary accounts to Equity in preparation of reports.
With computers, that is not necessary. In GnuCash, you can just
> This has
>gotten crazywhy not>just use the spreadsheet, no value is added and
>possibly mistakes are
>introduced in whatever you are doing trying to make equity accounts report
>something.
I had about come to that conclusion myself. I guess I will just set these up as
expense accounts. I
Yikes, i think Adrien should not write that up on the wiki! This has
gotten crazy. No one should have to go through complicated gyrations so
that equity subaccounts can awkwardly report amounts that are unusual and
aren't very meaningful. This gets impossible to follow, so I am not sure,
but I
Marilyn,
This does complicate things a bit, but your concept is still doable.
Warning: Long Read Ahead
If you don't want to create another real-world 3rd (or more) account(s)
at one of your financial institutions, you can still track this
virtually, and maintain sanity for reconciliation
On 8/7/2020 9:14 AM, D. via gnucash-user wrote:
Marilyn,
Part of your problem, I think, is based on a misunderstanding of terminology. You keep referring to
these virtual amounts as "Equity" when really they are *Assets*. In the gnucash world,
these funds should be placed as Assets accounts.
-- Original Message
From: Marilyn Graves Kimple via gnucash-user
Sent: Fri Aug 07 07:11:50 EDT 2020
To: Adrien Monteleone
Cc: GnuCash Users Group
Subject: Re: [GNC] help to set up equity sub-accounts opening balances
>I wasn't quite clear if this is 'virtual' earmarking of
>I wasn't quite clear if this is 'virtual' earmarking of funds or
>real-world separate accounts. (like a savings account, or as with some
>checking accounts, a special designation amount)
>If this is just for your informational purposes to see how much you've
>set aside, (but the money doesn't
Not sure all of that was in chronological order, so I'm still a little
fuzzy, but maybe this will help you:
Income should be its own account (of type 'Income') in GnuCash. You can
of course have sub accounts here to track various sources.
When you earn (or receive if on a cash-basis) then
Hi Marilyn. I like your usage of sub-accounts within equity at least to
indicate that some balance of emergency savings should be considered, when
looking at your Balance Sheet. Like to be able to say there is X amount of
equity available beyond that amount set aside for emergency savings. Or
Marilyn,
There should be no problem creating sub accounts of Equity at all but it is not
really clear that you would need to. I
have just created a sub account of equity and I have several existing sub
accounts of equity.
The mailing list archives have many discussions around allocating money
ow I could keep a running
balance. Maybe I will just have to do something different.
Best regards, mgk
Message: 3
Date: Wed, 5 Aug 2020 10:35:32 -0500
From: Adrien Monteleone
To: gnucash-u...@lists.gnucash.org
Subject: Re: [GNC] help to set up equity sub-accounts opening balances
Message-
Message: 3
Date: Wed, 5 Aug 2020 10:35:32 -0500
From: Adrien Monteleone
To: gnucash-u...@lists.gnucash.org
Subject: Re: [GNC] help to set up equity sub-accounts opening balances
Message-ID:
Content-Type: text/plain; charset=utf-8; format=flowed
While you can make any account structure you wan
While you can make any account structure you want, there's no need to do
so just for reporting purposes. Reports can show expenses (or anything
else) monthly, yearly, for just a few days, or one day only if you like.
Regards,
Adrien
On 8/4/20 10:07 AM, Marilyn Graves Kimple via gnucash-user
I have used double-entry bookkeeping although I am not trained. In the past I
have used what I called 'fund' accounts as sub-accounts for my equity account:
home maintenance, tithe, and emergency savings, for example. I divide my
'profits' each month and accrue them through an expense account
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