On Thu, 9 Dec 2021 at 22:48, Michael or Penny Novack < stepbystepf...@comcast.net> wrote:
> On 12/9/2021 2:04 PM, Gyle McCollam wrote: > > Repeat, get professional advice or at least learn the accounting > yourself. This is an accounting question, not a gnucash question. > > Michael D Novack > I believe I was overthinking this - making it more complex than it needs to be. To be honest, I'm using GnuCash as a bookkeeping tool, not accountancy.* Exactly how I record the information is not important, as long as my accountant can understand what I've done. * Maybe it's best if I just set up an expense account of "director loan" with the appropriate opening balance. Then at the end of the accounting period, he will look at the balance, and add it to the other liabilities he calculates. As long as my accountant can see what I've done, that's good enough. I have in the past used a spreadsheet where I record * Expenses * Income * Bank account. amongst other things. The problem I've found is that when the expenses is subtracted from the income, it does not agree with the change in the bank account due to errors. A double-entry bookkeeping system should reduce the chance of errors. Dave _______________________________________________ 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.
