[GNC] Consolidation of family member accounts

Michael or Penny Novack stepbystepfarm at comcast.net
Mon Aug 14 10:47:16 EDT 2023



> As I have replied to Liz and addressing your valid point, i am maintaining three separate books for each one of us, independent to each other. And that is why I raised a query how I can combine or consolidate three books to create one virtual book which I would call a family book.
>
When I suggested a spreadsheet application (instead of paper) to add up 
the components of individual family members to get a family totals 
report I was not meaning to imply that you could not use gnucash for 
that. I make a lot of use of gnucash for "virtual entities". But that is 
mainly when "sort of like a real entity" so you want the usual reports 
"as if it were a real entity".

Thus when our "solar system" in effect "pays" an electric bill on my 
behalf (we are a "net billing" state)  treated as if this "business" 
received income (no money has changed hands) and when SRECs it generated 
were sold, gets credited for money I received (not it) and debited for 
the tax liability I incurred from that. Similarly, while it was (still) 
paying off the initial loan, implied interest was an expense, its share 
of the property insurance premium, etc. WHY do this? To correctly be 
able to determine when this "investment" paid off (as opposed to the 
over simplified examples they show you which assume interest rates are 
zero and no "other" expenses are incurred) . In other words, when the 
initial loan had been paid off in full (out of its net income) THAT the 
correct date of being paid off. Currently building a "repair and 
replacement" fund.

However, not going to advise "how to" (set up books for virtual 
entities). If you need help, you shouldn't be trying this

Michael D Novack




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