Account layout for a personal business

[Mike or Penny Novack]

But the question is, why would you WANT to do this? Why would you want 
to co-mingle your business accounting with your personal accounting? Yes 
of course, you aren't legally separate entities but you (probably) need 
to report your business in a separate section of the tax forms. And yes 
you CAN do this by selectively including and excluding accounts from the 
reports GnuCash produces but is that easier than keeping two sets of books?

If you keep two sets of books you have the added work of entering the 
transactions that represent flows between the books (money going in both 
directions between you and your business). But the trade off is less 
work with the reports, nice, clean, simple reports.

Michael

>I have a similar problem.
>
>I set it up like so:
>
>AP Assets Personal
>__+accounts receivable
>__+assets current
>___++bank accounts 
>__+etc
>AB Assets Business
>__+assets current
>___++bank accounts 
>__+etc
>EB expense Business
>__+ etc
>__+ etc1
>__+ etc2
>EB Expense Business
>__+ etc
>__+ etc1
>__+ etc2
>Equity
>__+business equity
>__+opening balances
>IP income Personal
>__+ etc
>__+ etc1
>__+ etc2
>IB Income Business
>__+ etc
>__+ etc1
>__+ etc2
>LB Liabilities Business
>__+ etc
>__+ etc1
>__+ etc2
>LP Liabilities Personal
>__+ etc
>__+ etc1
>__+ etc2
>The abbreviations keep them in order and make it easy to type in the account
>selections when categorizing
>IP Income Personal etc
>
>
>I only have one Equity account because I don't have LLC's or corporations
>that I have to keep separate, its all my equity.  My business stuff is all
>sole proprietorship and it would be nutty to have separate gnucash accounts.
>I have no accounting training, so this might be a terrible way to keep it
>straight, but I cant imagine trying to send money to and from separate
>gnucash files for business purposes.
>  
>


-- 
There is no possibility of social justice on a dead planet except the equality of the grave.