Michael
Contributions was likely the wrong term but I was thinking in terms of
owner's contributions to the business which obviously can occur at any
time not just when the books are split.
Agreed that any suggestions we might make here are not accounting
advice.
David
On Mon, 2025-01-20 at
On 1/20/2025 3:36 PM, David Cousens wrote:
Michael,
you have convinced me that it does make more sense to treat the
contributions as an asset rather than a reduction in equity.
David
"Contributions? I am confused.
On the books of these businesses, equity represents the ownership
interes
Quite right. In some investment accounts that only have monthly or
quarterly dividends, they are reconciled once a year.
On Sun, Jan 19, 2025 at 11:28 AM Jediator wrote:
> Monthly reconciliation isn't the only way. I found it more less
> time-consuming to do quarterly or semi-annually reconcil
Michael,
you have convinced me that it does make more sense to treat the
contributions as an asset rather than a reduction in equity.
David
On Mon, 2025-01-20 at 12:21 -0500, Michael or Penny Novack via gnucash-
user wrote:
> I think your problem is misunderstanding "equity".
>
> You, as ow
I think your problem is misunderstanding "equity".
You, as owner of these businesses have a total equity. Each of these
businesses has an equity. You are imagining that because was on one set
of books (your equity included the businesses) when you split YOUR
equity is reducing. You are forgett
Thanks Alex! I think this is what I need. I will give a try and
provide feedback to this list once I tried with TurboTax...
Cheers!
-- ND
On 1/19/25 6:54 PM, Alex Aycinena wrote:
From: Jediator
To: "gnucash-user@gnucash.org"
Cc:
Bcc:
Date: Sun, 19 Jan 2025 11:49:54
Thanks David. Here are some use cases: Joe is a plumber but also
delivers groceries to nursing homes. Joanne is a realtor but also runs
a property management service, and sells Tupperwares to other moms. It
is not uncommon that many self-employed today have more than one
business, and IRS wa
On Sun, Jan 19, 2025 at 7:39 PM Jim DeLaHunt wrote:
> Fred:
>
> From your description, the difference in account balance correlates
> with a transaction that is in a currency which you don't often use.
> Maybe the currency handling is not correct. Do your book properties
> include using trading
