Cannot make sub-accounts balance

[Blair Lowe]

Thanks Beth,

Note that those are merchant VISA and MC accounts so they are not for
cards, but rather funds received from sales through VISA and Mastercard
merchant accounts.

If this is the case, should they still be liabilities?

Blair.

On Thu, 2005-04-21 at 18:25, Beth Leonard wrote:
> On Wed, Apr 20, 2005 at 10:35:26AM -0600, Blair Lowe wrote:
> > In the accounts screen, the subgroup accounts do not equal the subgroup
> > total on many accounts.
> 
> Hi,
> 
> We figured it out in #gnucash on IRC (thanks to OliveLove & Warlord).
> You have two liability accounts (Mastercard and Visa) totalling
> under the assets.  An accountant could explain it better than I,
> but a negative total in a liability account is the exact opposite
> of an asset.  So, when the assets are totaled including the negative
> balances on the credit cards they add the opposite of how they
> are listed in human readable form.  (A negative balance on the
> credit card is like you paid ahead in advance, and can be thought
> of as an asset.  It should add to your total assets, not subtract
> from them.)  If you add the sub-accounts by hand treating the
> credit card accounts in the opposite direction of how they are
> listed, you will find that the total matches correctly.
> 
> Typically, liability accounts like credit cards are not children of
> the "Assets" accounts tree.  To move them under the "Liability" account
> tree, single click on the account in the main window, then click
> on the Edit button (fourth from the left).  Under Parent Account,
> select "Liabilities."
> 
> It looks like under your Assets account you have many types of
> accounts, including expenses like payroll.  Typically things
> like that are listed under the top-level "Expense" account.  This
> will help with the pre-defined reports down the line.
> 
> --Beth 
> +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
> +                             Beth Leonard                          +
> +       O say, does that star-spangled banner yet wave              +
> +       O'er the land of the free and the home of the brave?        +
> +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
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