Farm & Community Accounting - Any experience?

Rongomai Bailey imdying at gmail.com
Sat Dec 19 21:06:59 EST 2009


Hey Michael,

Thanks for the reply. Great links (Am still a bit new to accounting!).

Have setup a "farm income" and "farm expense" account for expenses shared by
the community.

Under "Farm Liabilities" I have given everyone an individual liability
account. Some members like to be in credit so technically that's money the
community is liable for. People who owe bills have a negative liability.

I've setup automatic weekly rents and expenses and everything seems to be
working out ok...

Rongomai

2009/12/19 Michael DeBusk <michael at nlphilia.com>

> RPSB wrote:
>
> > We have a farm account and about 20 members who are financially involved.
> >
> > I'd like each member to have an itemised bill at the end of the month,
> but
> > also be able to see an overview of total income/expenses.
>
> A commune is essentially a partnership, so setting up the books that way
> might be a good idea.
>
> The only accounts to be broken down by member are the equity accounts.
> Assets, liabilities, income, and expenses all "belong" to the commune,
> and the commune "belongs" to its members. Each member's share of the
> income and expenses is computed according to the partnership agreement,
> or whatever is its equivalent in a commune, and is not reflected in the
> structure of the chart of accounts.
>
> http://www.dwmbeancounter.com/tutorial/coabal.html
> http://www.qbalance.com/Chart_of_Accounts.htm
>
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