Sounds promising. It seems to me if I posted a check, for example, directly to
a "tithe payable" liability account I would not need a separate tithe expense
account. For something like "household maintenance" or "emergency" reserve
funds there would be a fairly large credit balance sitting there most of the
time, but I guess that would work, too. I will try it out and see (after I have
rested my brain some). Thanks.
Best regards, mgk
On Sunday, August 9, 2020, 06:26:09 PM EDT, doncram <donc...@gmail.com>
wrote:
>For Marilyn, please see that recognizing tithing expense and tithing payable
>(liability) does ?>exactly what you need. You don't need a separate
>spreadsheet, I am pretty sure. Your Balance >Sheet will show your regular
>assets, any liabilities that you already recognize, and now also >this
>Tithing Payable. In exactly the amount that you were contriving to have an
>equity >subaccount report. I further understand you were, in your previous
>system, allocating out all >of your equity to a few purposes, i.e. more or
>less in your words you were dividing out any new >net income (which increases
>equity) into tithing and a couple other purposes. Whatever those >other
>purposes are, probably they could be recognized as liabilities too.
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