Deposits as Liabilities or other?
Ian S. Worthington
ianworthington at usa.net
Mon Jun 19 10:45:48 EDT 2006
I'm on 1.8.11 too -- I take it that's the last "production" version?
Updating the "smallest fraction" just seems to affect the account summary
page, not the individual register pages.
------ Original Message ------
Received: Mon, 19 Jun 2006 03:11:37 PM BST
From: "Maf. King" <maf at chilwell.net>
To: gnucash-user at gnucash.org, "Ian S. Worthington" <ianworthington at usa.net>
Subject: Re: Deposits as Liabilities or other?
> On Monday 19 Jun 2006 11:52, Ian S. Worthington wrote:
> > Hi.
> > 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
> (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
> I think that will do what you need.
> > 2. My wife's family, for whom this is for, rents widgets to a small
> > 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
> > 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
> 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
> "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 :
> Income:Rental 40.00
> Liability:Deposits 2.00
> Asset:Bank(or Cash) 42.00
> Assets:Widget:rentable -1
> Assets:Widget:rented +1
> 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.
> > Thanks,
> > Ian
> > ...
> > Ian S Worthington
> > ...
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> Maf. King
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