Farm & Community Accounting - Any experience?
Rongomai Bailey
imdying at gmail.com
Sat Dec 19 21:51:48 EST 2009
>
> > Have setup a "farm income" and "farm expense" account for
> > expenses shared by the community.
>
> Nothing more specific? Like, say, Expenses:Fertilizer, Expenses:Pest
> Control, Expenses:Utilities:Electricity, and so on?
>
I have detailed sub-accounts, but didn't want to bother you with the
details.
> 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 don't understand. The farm borrows money from its members?
Not quite borrowing. Some people like to deposit lump sumps into the farm
account - e.g. depositing $1000 when weekly bills are $100 or so.
Would this $1000 "credit" on their "account" technically be a liability for
the farm? Is there a better way to do this?
thanks for your time,
Rongomai
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