Coop Finances

Keith Bellairs keith at bellairs.org
Sun Aug 17 21:16:30 EDT 2008


When rent is due set up a receivable (the tenant's debt):

August 25 J. Smith Rent Receivable (Asset)     $100
                             J Smith Rent Income (Income)            $100

When the cheque is received, deposit it and credit the receivable:
September 2 Deposit to bank (Asset)
                    J Smith Cheque #123                  $100
                    J Smith Rent Receivable                            $100

The final result is $100 cash deposit and $100 income from J Smith. The
receivable account is a temporary holding place while you wait for the money
to come in.

I don't use the business functions, so someone else will have to show how to
hook that in.



On Sun, Aug 17, 2008 at 7:50 PM, Stella-Terra Clemens <
stellaterraclemens at gmail.com> wrote:

> Hello.
> My name is Stella-Terra and I'm the finance coordinator for a small (~25
> member) housing cooperative.  Right now we're using Quickbooks, but I'm
> trying to make the case to switch to GNUCash, as I've enjoyed it so much
> for
> my personal finances and stand behind any free software/open source
> endeavor.
> As a demonstration I decided to start the books and model the last two
> months of account activity in GNUCash.  Unfortunately, I've run into a spot
> of trouble:
> Every month on the 25th, the house charges each of it's members their rent
> fee.  I can't figure out how to model this.  Essentially this is a landlord
> tenant situation.  I want to be able to have one account per member (as
> income accounts, I guess) and then have an account that houses their debt
> (which I'm assuming is an asset) but then when they pay the house, it has
> to
> go into the checking account, so the debt keeps going up.  I'm confused
> about how to properly model this relationship.
> I tried to use the business functionality with the invoices, treating the
> members as customers, but it seems too complicated, and I wasn't able to
> figure out how to look at the situation from the accounts.
>
> Anyway, thanks very much.
> Stella-Terra
>
> [Side request: is there a way to have the same amounts billed to the
> members
> every month?]
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