Deposits as Liabilities or other?

[Ian S. Worthington]

Thanks Maf.

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.

ian
...

------ 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.
> >
> 
> <SNIP>
> > 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 :
> 
> 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.
> Maf.
> 
> 
> > Thanks,
> >
> > Ian
> > ...
> >
> >
> > Ian S Worthington
> > ...
> >
> >
> >
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> -- 
> Maf. King
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> 
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Ian S Worthington
...