Joint Asset in an Individual Chart of Accounts

Mike or Penny Novack stepbystepfarm at mtdata.com
Mon Aug 4 12:18:49 EDT 2008


>
>
>
>Does anyone on this list have any other suggestions or experience with
>using CG to account for this kind of relationship? (common vs individual
>assests), or any comments on the choices I articulated above?
>
>Thanks,
>
>Lincoln
>  
>
I can't see anything about GnuCash that would make this the least bit 
harder than were you accounting for being a partner in a partnership. 
Likely there may be some people on this list who are using GnuCash for 
both keeping partnership books and their personal books (reflecting 
their partial interest in the partnership).

I can't help repeating this, but GnuCash can't help you set up books 
that you didn't know how to set up were you working the old fashioned 
way with pen and ink on paper. GnuCash makes the process of entering 
transactions easier and less prone to error (checking arithmetic and 
balance as you go) but it can't design a chart of accounts to suit your 
particular purpose. You either need to get somebody who is experienced 
(or a professional) set that up for you or you learn that much 
accounting to be able to do it for yourself.

What GnuCash possibly COULD use is a "book" covering basic accounting 
and that could have special reference to GnuCash.

Michael


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