Hi Buddha,
I have attached my GNUCash Backup file of my site account which i entered
using Mobile GNU Android App under single entry.
there i created a an unpaid labour and unpaid material under liability type
accounts, and paid materials and paid labour under expenses type accounts
now my repor
On 11/24/2017 08:29 AM, Mike or Penny Novack wrote:
i am purchasing cement on credit(Loan) that is accounts payable i.e. liability Here i need to create liability account for cement
under material expenses, but i am unable to create a liability account for cement under material expense account so
On 11/23/2017 10:07 PM, Suresh Saragadam wrote:
Hi Buddha,
Thanks for the reply,Now I understood may be it is not a general accounting
practice.
To my requirement i am not required to record double entry,
I know that i am spending from my pocket there is no need for income or
profit and loss sta
On 11/23/2017 2:17 PM, Suresh Saragadam wrote:
I am working on a small construction work where i need to record my
expenses for both material and men (labour)
i am purchasing cement on credit(Loan) that is accounts payable i.e.
liability Here i need to create liability account for cement under
GnuCash is fundamentally a double-entry accounting program. If you don't
want to do double-entry accounting, then GnuCash is not the tool for you.
There are not any global settings to change it to a single-entry system.
My question to you is:
Your suggestion of putting a liability accounts payabl
Hi Buddha,
Thanks for the reply,Now I understood may be it is not a general accounting
practice.
To my requirement i am not required to record double entry,
I know that i am spending from my pocket there is no need for income or
profit and loss statement,
I just want to track my Expenses. and acco
Hi Suresh,
there is a good reason why you can not mix this types of accounts. There
are 2 different dimenstions in accounting:
1. What is your position at a specific point in the time?
Assets, liabilites, equty express this.
2. What is your motion over a period of time?
Income and expense expres
You should talk to your accountant about how to set up your accounts to
handle this type of transaction. Your proposed solution (a liability
account under the concrete expense account) is not how I would do it, and I
believe is generally not considered the proper method of doing it. Things
may be d
I am working on a small construction work where i need to record my
expenses for both material and men (labour)
Initially i need to create expense accounts for
sand, stone,cement, under Total Material Expences
Total Material Expences
|_sand
|_cement
|_stone
i am purchasing cement on credit(Loan
