At Fri, 17 Jan 2025 11:31:39 -0700 Griffin <grif...@bernevyl.com> wrote:
> > I am using Gnucash for my home accounts. I won't be trading for the > foreseeable future as all my retirement money was stolen in a scam. > > Do I need to use liability accounts for any of my home accounting accounts? Car Loan, Credit Cards, Mortage, basicly any kind of debt. > If I understand correctly, liabilities are usually, outside of trading > purposes, just for companies to track long-term expenses. No, liabilities are debt -- that is anything you owe someone else (eg a Bank) is a liability. Yes, businesses use various sorts of credit, commonly for capital expenses. All of this use of credit is a liability. But this is not limited to businesses. > Do I not need to use them, or would I use them for contracted expenses, like > rent, utilities, etc. Expenses are Expense Accounts (note: paying off debt is not an "expense" in the same sense as rent or utilities). > Or are they just overkill for home accounting. Unless you never use a credit card, bought your car and house with cash, liability accounts are a normal part of home accounting. Note: even if you pay off your credit card each month, the charges each month are liabilities. > _______________________________________________ > 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.
