Executive summary: Cash and my checking and saving accounts are assets. What difference does it make if I assign them account types of Cash and Bank respectively, or just assign all three an account type of Asset?
Details: I use GnuCash for my personal financial accounting. Up till now , I've had one leaf account called Cash and Banks, of account type Asset. I do reconcile my checking and savings accounts against the monthly statements from my bank, but the old-fashioned way not via GC's reconciliation features. Recently I've realized that when the actual balance of cash plus bank accounts doesn't match what GC says, it would be easier to track down my error if the "Cash and Banks" account was a placeholder with child accounts Cash, Checking, and Savings. I see there are account types Cash and Bank, but I couldn't find any description of what special features or restrictions (if any) those types have -- more specifically, what difference does it make whether I declare a cash account as type Cash, and my two bank accounts as type Bank, versus just declaring all three as type Asset? I spent considerable time searching in both the Tutorial and Concepts guide and the Technical Reference manual. Maybe I didn't pick the optimum words or phrases for my search. Could someone point me at the right section? Or are account types Cash and Bank just informational, and GC doesn't treat them any differently from generic Asset? -- Stan Brown Tehachapi, CA, USA https://BrownMath.com _______________________________________________ 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.
