Never create transactions form Income to Bank nor Bank to Expenses!

Raphaël Maville rafmav at wanadoo.fr
Sun Dec 21 19:33:55 EST 2008


Never create transactions form Income to Bank nor Bank to Expenses:
always use transactions from Income to A/Receivable and A/Payable to
Expenses instead!

Well, this is not really a question, but a personal observation of how
to use gnucash to follow accounts:

This e-mail follows the ones I posted in December, and the answers:
1. Where in GnuCash have we to write the unpaid (depts) ?
2. Managing dates for each transaction : date of record in the register,
date of reconciliation, date of bank record in register, date of bank
value


What about if I use gnucash like this:

BAD AND NEVER: Income  ---> Bank ---> Expenses
FORBIDDEN: Income  ---> Bank
FORBIDDEN: Bank ---> Expenses

GOOD: Income ---> Asset (A/Receivable) ---> Bank ---> Liability (A/Payable) ---> Expenses
WHEN KNOWN: Income ---> Asset (A/Receivable)
ONLY WHEN BANK VALUE: Asset (A/Receivable) ---> Bank
ONLY WHEN BANK VALUE: Bank ---> Liability
WHEN KNOWN: (A/Payable) ---> Expenses

And never create BAD transactions at all!

The only default:
- This increase the number of accounts and the number of transactions:
but with the schedule transactions, it is easy;


Some problems are solved with that:
- Another field of date in the transaction structure is not need: the
date of record in register is the date of the transaction from Income to
A/Receivable; I do not change it after created;
- the date of bank value is the date of the transaction from
A/Receivable to Bank;
- the date of Bank record in their own register is not needed (it is the
bank problem);
- date of reconciliation is the date of reconciliation, no more, no
less.
- unpaid do not appear in the bank accounts (exception: the bank could
ask some amount of money for a rejected "rubber" check: in this case,
there is no income for the check, but only a "liability", and then an
"expense")

If bank statements come from internet, we do not have to touch at all
the bank account, except to tell gnucash the "target" accounts for
double entry and to reconcile.


Finally, gnucash is call "double entry" because the all transaction
implies at least two accounts; I could add that with gnucash I can
follow my accounts on "double entry": income-expense, and
asset-liability !

Opinion ?


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