Deposits as Liabilities or other?
maf at chilwell.net
Mon Jun 19 09:11:16 EDT 2006
On Monday 19 Jun 2006 11:52, Ian S. Worthington wrote:
> 1. Set the currency to have no decimals -- I'm working in a currency that
> doesn't have a fractional component.
This is my only suggestion for 1. - You can set this on a per-account basis.
(I'm still using 1.8.x, YMMV!)
>From the account tree listing, select an account and then edit from the
toolbar. There is an option for "Smallest Fraction", which you can set to 1.
I think that will do what you need.
> 2. My wife's family, for whom this is for, rents widgets to a small number
> of people. To rent a widget during the day costs, say $40 and during the
> night costs $38. In addition there is some sort of deposit/savings plan
> associated with each rental of $2, which is held against damages and
> returned at year end, or when the cutomer closes their account. (If you
> think this is odd, you're not alone.)
> My first though was to create a Liability to each customer and split the
> money received to Assets:Cash and Liabilities:customer, but then I actually
> have more cash than the account shows.
> Can someone suggest what the correct procedure here is?
Well, Presumably your wife's family owns the widgets, so there should be some
sort of asset account to reflect their value. (eg Assets:Widgets)
Since GC doesn't do inventory for you, you could *maybe* split this into 2
sub-accounts, (rentable and rented) to reflect the number of widgets that are
"in stock" at any one time.
When someone rents a widget, I think you need to reflect rental income and
liability of the deposit. This sort of thing may work for you :
Asset:Bank(or Cash) 42.00
What this will not show you (easily) is how much deposit is held for any
particular customer. You could do this by sub-accounts under the liability
tree, or if the number of customers is small enough, do it by hand using
reports with the customer name in the memo field.
HTH, $0.02, IANAA etc.
> Ian S Worthington
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