Bank account vs assets issue

Derek Atkins warlord at MIT.EDU
Tue Mar 14 11:33:43 EST 2006

Wouter van Marle <wouter at> writes:

>     > - Assets
>     >       -- Bank account
>     >               -- Expenses/income my company
>     >               -- Expenses/income other company
>     Um, Expenses aren't Assets.  They don't belong here.
> In so far: I do this to keep the sums in the bank account separate. These are
> sub-bank-accounts actually; so they DO belong there, as nothing gets charges
> against the second-level "Bank account". This as if there are two accounts in
> one.

Um, if that's the case then either:

  a) your accounts are misnamed, or
  b) you don't understand double-entry accounting.

I recommend you read the gnucash concepts guide

> Wouter.


       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL:    PP-ASEL-IA     N1NWH
       warlord at MIT.EDU                        PGP key available

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