What kind of account?

[Bob Williams]

On Wednesday 14 May 2008 21:29:46 you wrote:
> On Wednesday 14 May 2008, Bob Williams wrote:
> > Hi,
> >
> > I'm fairly new to keeping my home accounts & gnucash. I have a
> > particular kind of (British) savings account called an ISA, which I
> > can invest in from time to time. The gains are tax-free, but there is
> > a limit on how much one can invest in any particular year. The money
> > buys units in a fund of stocks and shares (equities), so it's value
> > can go up or down, depending on the ability of the fund managers.
> >
> > I'm not sure what top-level parent account I should be using, and how
> > I manage changes in value.
> >
> > Thanks for your help.
> >
> > Bob
>
> Hi Bob,
>
> I have my ISAs grouped under Assets, something like:
>
> Assets:ISAs:ProviderName
>
> I have an Income Account (Income:ISA Gains) for the Interest on the
> cash ISA & (hopefully) gains made on the stocks ISA types.  If the
> stocks ISA has gone down in value, I just make a -ve payment to the
> income account.
>
> I've also left the "Tax Related" box unchecked for the income account,
> although, TBH, I've never had a problem remembering not to include it
> on my tax return!
>
> I also haven't looked yet at the new rules for this year yet to see if
> I need to make any changes to the GC tree structure.
>
> HTH, IANAA etc.!
> Maf.

Thanks, Maf. I wasn't sure if one of the existing accounts was what I 
should be using.

Bob
-- 
Bob
Registered Linux User #463880
GPG-FP: A6C1 457C 6DBA B13E 5524 F703 D12A FB79 926B 994E
openSUSE 10.3, Kernel 2.6.22.17-0.1-default, KDE 3.5.9
Intel Celeron 2.53GB, 2GB DDR RAM, nVidia GeForce 7600GS