Best way to organize accounts

[Derek Atkins]

Gnucash does not support #2.  You cannot have an Expense Account under
an Asset Account.

-derek

Quoting eschvoca <eschvoca at gmail.com>:

>> From what I can determine there are two fundamental ways someone can
> organize their account trees:
>
> 1) Use transaction types at the top level (Assets, Equity, Expenses, Income
> Liabilities)
>
> 2) Use real-life grouping at the top level (Checking Account, etc)
>
> In (1) if your real-life Banking Account has Assets, Expenses, and
> Income then you could have a separate Gnucash Banking Account under
> those top level accounts.  In (2) Banking Account would appear once at
> the top-level and it could contain sub-accounts of Assets, Expenses,
> and Income.  Whatever is at the top level it is easy to get a summary
> for all subaccounts.
>
> Currently I've setup my accounts using form (1) but find that I can't
> reconsile my statements because there is no overall balance for my
> bank account.  I'm tempted to do the big switch to form (2) but I
> thought I first check with people to see what their suggestions are.
> If I go with (2) can I still get my total income somehow (e.g. from a
> report)?
>
> What do people recommend?
>
> -E
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-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
       warlord at MIT.EDU                        PGP key available