> On 10/01/2024 9:44 AM PDT Chris Miller via gnucash-user > <gnucash-user@gnucash.org> wrote: > > > Hi Folks, > > These are GnuCash questions; not accounting questions: > > > * How do "Cash", "Bank" and "Asset" accounts different from each other? > They are all assets ... > * How do "Liability" and "Credit Card" accounts different from each > other? They are all liabilities ... > > > Are these distinctions without a difference? > Are they here because most users might not know that a "Bank" account is an > asset and a "Credit Card" is a liability? > Does GnuCash treat them differently? > > Thanks for the help, > -- > Chris. >
The page below suggests there is some good reason, but it's a bit ambiguous. My overall interpretation from the entire page is that it helps with the balance sheet, or something similar to that. "A GnuCash account must have a unique name (that you assign) and one of the predefined GnuCash “account types”. There are a total of 12 account types in GnuCash. These 12 account types are based on the 5 basic accounting types; the reason there are more GnuCash account types than basic accounting types is that this allows GnuCash to perform specialized tracking and handling of certain accounts. There are 6 asset accounts (Cash, Bank, Stock, Mutual Fund, Accounts Receivable, and Other Assets), 3 liability accounts (Credit Card, Accounts Payable, and Liability), 1 equity account (Equity), 1 income account (Income), and 1 expense account (Expenses)." Again, I'm not exactly sure about the way that GnuCash was programmed with respect to these various different accounts, as I just use the basic accounts and organize things myself. SOURCE: https://lists.gnucash.org/docs/C/gnucash-guide/accts-types1.html _______________________________________________ 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.
