On Sun, Nov 10, 2024 at 01:13:30PM -0500, Derek Atkins wrote: > Hi, > > On Sun, November 10, 2024 12:43 pm, Chris Green wrote: > > > OK, that's fine, so I have an equity account with the amount owed from > > the current account to the building fund. That amount transfers to an > > account in Liabilities. However I'm stuck on how I add further > > amounts owing to the building fund during the year, where do they > > transfer from into the liability account? > > The Equity account is (generally) only used for opening balances before > you start accounting. Once you get going, any account opening would > necessarily have a counter/balance account. For example, if you open a > Car Loan, the counter-account would be the Car (Asset), and possibly some > Tax & Fee Expense account(s). > Exactly as I said. The amount owed to the building account at the start of the year is an equity account as a negative amount and adds to the corresponding liability account at the start.
> So the question is, what "further amounts owing to the building fund" are > you talking about? In this particular case, I don't really think it IS a > liability -- a liability is when someone gives you sometihng of value and > then you pay them back over time (e.g. a loan, mortgage, etc). In the > case of regular building funds, that would most likely be an expense to > you -- or an asset if you have a way to "get it back". > OK, so how **do** I put it in the accounts? Some time during the year we get a donation which is destined for the building fund but it's paid into the general bank account. So I need a way to show the amount in the current account bank balance but **also** indicate that there's a corresponding liability as it needs to be moved to the building fund. -- Chris Green _______________________________________________ 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.
