Equity vs liability
Geert Janssens
janssens-geert at telenet.be
Thu Aug 12 10:00:32 EDT 2010
Hi,
I'm in the process of creating a new chart of accounts tailored to Belgian
law. I am basing my work on the normalized chart of accounts that can be
downloaded from the government's website. I'm having some trouble with setting
account types the way I want though.
Here's the thing:
In Belgium (and perhaps in other countries as well) a balance is usually
represented like this:
Assets | Liabilities
-------+------------
... | Equity
. | Other liabilities
. | ...
(In Dutch this would be:
Activa | Passiva
-------+----------
... | Eigen vermogen
. | Vreemd vermogen (leningen ed)
. | ...
So to represent this in GnuCash, I wanted to create this hiearchy:
+ Assets (account type Assets)
+ Liabilities (account type Liabilities)
+ Equity (account type Equity)
+ Other liabilities (account type Liabilities)
I can't however. GnuCash won't allow me to put my equity accounts under
liabilities.
So what's wrong here ?
* Am I trying to misrepresent something here ? Do I use the wrong term to
translate "Passiva" into an account type ?
* Or is GnuCash just not properly adapted for the Belgian situation ?
Thanks for your feedback.
Geert
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