Deleting accounts and resolving existing balances

[Maf. King]

On Tuesday 16 Aug 2005 11:38, Dave Anderson wrote:
> Here's a good one for you guys.  My wife and I are divorcing (friendly
> divorce on very good terms).  We had shared credit cards.  There are
> some cards that I'm taking the debt on and some that she's taking the
> debt on.  I had all of these entered into GNUCash and would enter in the
> finance charges and what not each month.  For the cards she's taking
> over, how should I 'get them out of' GnuCash?  I initially thought it
> would make sense to just delete the account out.  I did that for one
> (very small balance - $200) and all of the old payment from my checking
> account just show nothing under the Transfer column now.
>
> Is that the best way to do it?  If I keep the accounts in there, I'd
> want to $0 out the balance somehow, since I'm no longer responsible for
> them and will no longer be maintaining the records.
>

Hi,

My first thought for this is to add a new account (probably equity - ask an 
accountant!) and just zero the card balances to that account - very similar 
process to equity:opening balances at the start of your gnucash time.

I'll be interested to learn [if there is a / what is the] proper way to deal 
with "vanishing liabilities"....

Cheers,
Maf.