My wife and I would like to separate our individual money from the money that is "communal". Every month, we take 80% of our salaries and deposit them into a communal account, leaving 20% as pocket money for ourselves.
So for example, if I make $1000 in one month and my wife makes $2000, then I would get $200 for myself, she would get $400, and the communal "pot" would get $2400. All money is in the same account with our bank and is not separated. I initially thought we could represent this with Equity: Equity - Shared Equity ($2400) - Me ($200) - Wife ($400) Assets - Bank Account ($3000) However, what happens now if I want to lend a friend $200 from my own money? This is where I get confused. Normally I'd represent a loan as a withdrawal from the bank account and creation of an "IOU" asset, but how do I also show that this has come out of "my" money? For example, if I just create an asset account there's no way to represent the fact that if my friend defaults on the loan, it should be paid out of my account: Equity - Shared Equity ($2400) - Me ($200) - Wife ($400) Assets - Bank Account ($2800) - IOU to my friend ($200) How can I represent this? Do I have to create a separate transfer of equity from "Me" to "Shared Equity"? This seems confusing since there is no intuitive way to ensure that I will remember where to return the funds when my friend pays me back. E.g. if I forget whether the loan to my friend was from me or from the shared funds, there's no way for me to tell from the structure of the accounts. I really, really want to avoid creating multiple account files as I like the ability to report on the net assets and income from our whole portfolio. Arman _______________________________________________ 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.
