daniel.carrera at zmsl.com
Tue Jul 3 03:06:24 EDT 2007
Jeff Wiegley wrote:
>> No, you create accounts for each *project*. You can create
>> sub-accounts for vendor.
> That does not work.
> A single vendor can support multiple projects. Which project
> should you stash that vendor under? Whatever you select is wrong.
> Each invoice or receipt (or even portion of a receipt) should
> be attributable to any project account
>>> The problem is that this doesn't extend to projects.
Actually, I don't. I don't understand what you mean by extend.
>>> But I can't put the McMaster account under "doomsday weapon"
>>> because then all purchases for the gardening project also
>>> get accounted for under the doomsday project. I can't put
>>> McMaster under the gardening project for the symmetric
> And there is my example of why you can't have projects as
> accounts and vendors as subaccounts. Unless I guess you are able
> tp create two different subaccounts under their respective projects
> accounts with the same name.
> But that is also asking for trouble
> which I am not going to get into here unless you want me to. The
> problem with two different accounts with the same name should be
It is not obvious to me. What's the problem? Some times I have accounts
with the same name under different parent accounts.
> Splits are simply the aggregation of multiple, individual transactions,
> to produce a single credit or debit amount that matches some statement,
> or invoice record.
No they are not. For example, consider the following split:
Assets:Banks -> - $300
Expenses:Interest -> + $130
Liabilities:Loan -> - $170
This is a single transaction that affects three accounts, not two
transactions. I did not make two loan payments, I made one. Part of it
went toward the principal and part was interest. You _could_ whack it
into two transactions, but that would be _wrong_ not just because it
doesn't match the bank statement but simply because that is not what
really happened. I did not make two payments, I made one payment that
had an expense component and a liability component.
> For instance if I deposit three checks drawn from
> three accounts as debit into a savings account then really three
> transactions took place. But the bank statement for the savings
> account shows a single credit.
In this case I would make three transactions in GnuCash. What you
described is not what split transactions are for. They are not for
matching bank statements. They are for matching single transactions that
touch 3 or more accounts.
> Anyways, in doing it as project accounts with vendor subaccounts
> (with or without splits) you can never track back who you paid an
> amount to. All you can see is that in the bank account there are
> transactions, paid to "doomsday" or to "gardening".
No, you would see a transaction that says "Doomsday:McMaster".
> But if you wanted to purchase the same component again who would
> you buy it from? If you had a problem with the charge, like say
> it was discovered to be the incorrect amount, who would you call?
If the transaction says "Expenses:Doomsday:McMaster" I suggest you talk
> Oh... visually and manually cross-reference the bank statement you
> say? Forget that.
What the heck are you talking about? Who in the world suggested that you
check statements manually? We are showing you how to use GnuCash and
answering your questions in our spare time. Show some appreciation.
> You also can't make intelligent use of your data because you have
> lost all vendor information.
Are you sure you understand the concept of sub-accounts?
How exactly did you lose all the vendor information?
> You can say "How much did I spend on the
> doomsday product" but you can't determine "How much did dealing with
> McMaster-Carr cost me last year?" which can be equally important
> to a business as there are other suppliers.
You'd have to add up the totals for each McMaster sub-account. Mildly
annoying, but perfectly doable. Or you could make an income-expense
report and under 'Options' select only the McMaster sub-accounts.
>>> So it doesn't fit the food model. (Even the Food model
>>> doesn't work because I might want to account for food I
>>> bought for myself versus food I bought for guests as gifts
>>> under projects and such. I.E. not everything I buy at
>>> Ralph's is consumed ultimately paid for by me but rather my
>> This is again done with a split.
> No, it isn't. IANACPABMFI (I am not a CPA but my father is) I have
> discussed this at length with him and this is not done with splits
> or subaccounts.
Who says you have to put everything that is edible in the Food account?
I have an account for groceries and another for leisure which includes
Much of the rest of your email was bordering on insult and I'd rather
not reply to it.
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