Re: [GNC] QIF import error

Good to know. I'm sure many here will be happy if it picks back up. Regards, Adrien On 5/6/22 10:37 PM, davidcousen...@gmail.com wrote: There is a bit of recent correspondence on the github site with a possible new project manager interested. I gather the main problem is in getting Ngewi Fet th

[GNC] Account for Seller Credit when purchasing a home

I am still learning double-entry accounting, and I need a little help. I recently purchased a home, but the price was reduced during negotiation and a seller credit was applied at closing. Agreed Purchase Price: $100,000 Seller Credit for Repairs: $5,000 Actual Purchase Price: $95,000 When I

Re: [GNC] Account for Seller Credit when purchasing a home

Hi, On Sat, May 7, 2022 11:00 am, M wrote: > I am still learning double-entry accounting, and I need a little help. > > I recently purchased a home, but the price was reduced during > negotiation and a seller credit was applied at closing. > > Agreed Purchase Price: $100,000 > Seller Credit for Re

[GNC] gnucash.org ] Account for Seller Credit when purchasing a home

If the reduction of 5000 USD were genuinely for repairs which you expect to spend I would post the 5k as a minus expense in a maintenance account, or create a house repairs account (type expenses). Actually it's a credit. Then when you spend on repairs debit the expense to that account.(CR bank D

Re: [GNC] gnucash-user Digest, Vol 230, Issue 18

The simplest way is to just consider the purchase price to be $95,000, not $100,000. (If you really want to capture the seller credit, you "could" record the purchase price at $100k, and create another "split" in the transaction, $5,000 credit to a new account, for instance, "Inco

[GNC] gnucash-user Digest, Vol 230, Issue 18

The simplest way is to just consider the purchase price to be $95,000, not $100,000. (If you really want to capture the seller credit, you "could" record the purchase price at $100,000, and create another "split" in the transaction:   $5,000 credit to a new account - - for instance, "Income:credi

[GNC] Fwd: Double entry directly to Equity

Any suggestions there? -- Forwarded message - From: Bogdan Date: Wed, May 4, 2022, 12:04 Subject: Double entry directly to Equity To: Hi, I am trying to figure out how to set up a revaluation reserve account directly in Equity so that I could do e.g. Dr Asset a/c Cr Equity.

Re: [GNC] Account for Seller Credit when purchasing a home

At Sat, 7 May 2022 11:00:05 -0400 M wrote: > > I am still learning double-entry accounting, and I need a little help. > > I recently purchased a home, but the price was reduced during > negotiation and a seller credit was applied at closing. > > Agreed Purchase Price: $100,000 > Seller Credit

Re: [GNC] gnucash.org ] Account for Seller Credit when purchasing a home

I agree with David, but only if it was specifically negotiated as a repair, otherwise, yes you should record the asset (home) at the $95,000 price. Thank You, Gyle McCollam Gyle McCollam 609.680.2326 Mobile gmccol...@live.com emai

Re: [GNC] gnucash.org ] Account for Seller Credit when purchasing a home

On 5/7/2022 2:17 PM, Gyle McCollam wrote: I agree with David, but only if it was specifically negotiated as a repair, otherwise, yes you should record the asset (home) at the $95,000 price. Consult your tax advisor. Note that it will likely make a difference what sort of "repairs" as SOME ca

Re: [GNC] Fwd: Double entry directly to Equity

Bogdan, This Investopedia page ( https://www.investopedia.com/terms/r/revaluationreserves.asp#:~:text=Revaluation%20reserve%20is%20an%20accounting,of%20the%20asset%20has%20changed .) might provide some insights into how to setup revaluation reserves. My reading of this is that the Reserve account

Re: [GNC] Double entry directly to Equity

Well, Trading has special meaning in GnuCash: It's used for a set of accounts that are outside of the accounting equation used for tracking unrealized gains and losses from transactions involving more than one commodity. Those accounts are enabled by the book property (accessed via File>Properti

Re: [GNC] Fwd: Double entry directly to Equity

This Investopedia page ( https://www.investopedia.com/terms/r/revaluationreserves.asp#:~:text=Revaluation%20reserve%20is%20an%20accounting,of%20the%20asset%20has%20changed .) might provide some insights into how to setup revaluation reserves. My reading of this is that the Reserve account is a

[GNC] Budget Reporting

I’m new to gnucash so please let me know if this is not the correct way to get support. I have successfully entered all my transactions back to Oct 21, everything balances as I expect. I created a budget to cover the period Oct 21 through to Sept 22. I am however struggling to get a report to