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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