hi Mort The expenses account can be granular and can be tracked seperately. for Asset account unless you have separate bank accounts, you cannot separate it in your accounting system. You can use sub accounts, but it would be a huge overhead for you to reconcile your bank statement with individual buckets you have created.
Saludos Cordiales Murugan ________________________________ From: gnucash-user <gnucash-user-bounces+m.muruganandam=hotmail....@gnucash.org> on behalf of Mort Q <mort...@gmail.com> Sent: Monday, March 13, 2023 11:35 AM To: Robert Heller <hel...@deepsoft.com> Cc: gnucash-user@gnucash.org <gnucash-user@gnucash.org> Subject: Re: [GNC] Can a bank account have sub-accounts? Hi Robert I do have lots of expense accounts for repairs, catering, office expenses, utilities, etc, and income accounts for fund raising, donations, memberships, etc. so we can track income and expenses easily. The GnuCash reports really help people see where money is coming from and going to. That's one of the reasons I was thinking of having the sub accounts - the bank reports will be like an overall report but with the underlying break down of fund allocation. Does that make sense? Every transaction is double entry, I think (one account credited and the other debited) e.g. a bill payment will credit Liabilities:Accounts Payable and debit Assets:Current Assets:Bank Account. Is that what you mean? Thanks Mort On Tue, 14 Mar 2023 at 00:05, Robert Heller <hel...@deepsoft.com> wrote: > At Mon, 13 Mar 2023 23:55:05 +1000 Mort Q <mort...@gmail.com> wrote: > > > > > Hi all > > I act as Treasurer for a community organisation, and want to look for a > way > > that GnuCash can subdivide the money in the bank account into planned > > expenses e.g. a few members do ongoing fund raising for equipment, so > could > > I make a sub-account of the bank account called "Equipment enhancement"? > > When making a deposit, allocate that money to "Assets:Current Assets:Bank > > Account:Equipment Enhancement" instead of the currently-used > > "Assets:Current Assets:Bank Account". > > > > Currently, we just have the one account called "Bank Account" in the > Assets > > tree, and I keep a separate spreadsheet with the allocation break up. I > > have to remember to do the extra work to keep the spreadsheet up to date. > > In my previous life, I learnt that it was better to have a single point > of > > truth for data. > > > > I am thinking I will end up with an account tree like > > Assets: > > -Current Assets: > > -Accounts Receivable > > -Bank Account: (will still need this to be reported on for > audits, > > etc, as a single account) > > -General Funds > > -Equipment Enhancement > > -Saved for something else > > -etc > > Does this make sense? Or am I missing something? > > Or creating a nightmare that will come back and bite me when I try to do > > reports, etc later? > > > > Clearly, I am not an accountant, and a self-taught GnuCash user. > > Clearly :-). > > You are not fully understanding double-entry bookkeeping and how GnuCash > works > and is generally meant to be used. > > Yes, you can have sub-accounts under Bank Account, but probably should be > looking at creating a budget. > > You should *also* create additional accounts for the various expenses and > so > on as well. > > > > > Thanks > > Mort > > _______________________________________________ > > gnucash-user mailing list > > gnucash-user@gnucash.org > > To update your subscription preferences or to unsubscribe: > > https://lists.gnucash.org/mailman/listinfo/gnucash-user > > ----- > > Please remember to CC this list on all your replies. > > You can do this by using Reply-To-List or Reply-All. > > > > > > > > > -- > Robert Heller -- Cell: 413-658-7953 GV: 978-633-5364 > Deepwoods Software -- Custom Software Services > http://www.deepsoft.com/ -- Linux Administration Services > hel...@deepsoft.com -- Webhosting Services > > _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All. _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
