As I have replied to Liz and addressing your valid point, i am maintaining
three separate books for each one of us, independent to each other. And that is
why I raised a query how I can combine or consolidate three books to create one
virtual book which I would call a family book.
When I suggested a spreadsheet application (instead of paper) to add up
the components of individual family members to get a family totals
report I was not meaning to imply that you could not use gnucash for
that. I make a lot of use of gnucash for "virtual entities". But that is
mainly when "sort of like a real entity" so you want the usual reports
"as if it were a real entity".
Thus when our "solar system" in effect "pays" an electric bill on my
behalf (we are a "net billing" state) treated as if this "business"
received income (no money has changed hands) and when SRECs it generated
were sold, gets credited for money I received (not it) and debited for
the tax liability I incurred from that. Similarly, while it was (still)
paying off the initial loan, implied interest was an expense, its share
of the property insurance premium, etc. WHY do this? To correctly be
able to determine when this "investment" paid off (as opposed to the
over simplified examples they show you which assume interest rates are
zero and no "other" expenses are incurred) . In other words, when the
initial loan had been paid off in full (out of its net income) THAT the
correct date of being paid off. Currently building a "repair and
replacement" fund.
However, not going to advise "how to" (set up books for virtual
entities). If you need help, you shouldn't be trying this
Michael D Novack
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