gnucash-user Digest, Vol 91, Issue 29

[Info]

Try using two sub-accounts, one for you, one for the girl friend.

On 10/24/2010 11:00 AM, gnucash-user-request at gnucash.org wrote:
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> Today's Topics:
>
>     1. How to set up a shared account in GnuCash? (Jari P??kk?)
>     2. Re: How to set up a shared account in GnuCash? (Peter Boosten)
>
>
> ----------------------------------------------------------------------
>
> Message: 1
> Date: Sun, 24 Oct 2010 13:39:40 +0300
> From: Jari P??kk?<jari.paakko at gmail.com>
> Subject: How to set up a shared account in GnuCash?
> To: gnucash-user at gnucash.org
> Message-ID:<4CC40CEC.9030905 at gmail.com>
> Content-Type: text/plain; charset=ISO-8859-1; format=flowed
>
> Hi,
>
> I recently opened a shared checking account with my girlfriend and I'm
> not quite sure how to set that up in GnuCash. The idea is that both of
> us deposit an equal amount of money every month to the shared account.
> We then use the shared account to pay for our common groceries, bills
> etc. However, when using the shared account, I would want to track my
> half of the expenses separate from hers. For example, if we buy
> groceries for $50 using the shared account, I would only want to track
> $25 as my expenses. I tried to do this in GnuCash, but I stumbled upon a
> couple of problems. Here's the account tree I tried to use:
>
> -Assets
>     -Current Assets
>        -My Checking Account
>        -Shared Checking Account
> -Expenses
>     -Groceries
>
> Here's an example scenario:
>
> -Assets
>     -Current Assets
>        -My Checking Account         $25
>        -Shared Checking Account     $0
> -Expenses
>     -Groceries                      $0
>
> Let's say that I transfer $25 from "My Checking Account" to "Shared
> Checking Account":
>
> -Assets
>     -Current Assets
>        -My Checking Account        $0
>        -Shared Checking Account    $25
> -Expenses
>     -Groceries                     $0
>
> Now, my girlfriend transfers also $25 from her checking account to
> "Shared Checking Account":
>
> -Assets
>     -Current Assets
>        -My Checking Account        $0
>        -Shared Checking Account    $50
> -Expenses
>     -Groceries                     $0
>
> How should I record this in GnuCash? As I see it, I should create an
> account representing my girlfriend's asset account and transfer the
> money from there. However, I'm not quite sure, if this is right.
>
> Continuing the scenario, we buy groceries for $50 using the shared
> account. However, I only want to track my half of the expenses instead
> of the overall expenses. So, instead of putting $50 in
> Expenses:Groceries, I only want to put $25 in Expenses:Groceries:
>
> -Assets
>     -Current Assets
>        -My Checking Account        $0
>        -Shared Checking Account    $25
> -Expenses
>     -Groceries                     $25
>
> However, now I should still somehow record my girlfriend's half of the
> expenses. How should I do this? One solution would be to create a new
> account representing my girlfriends expenses and put her half of the
> expenses there. Again, I'm not quite sure, if this is the right way to
> do this.
>
> Am I completely on the wrong track here or how should I set up a shared
> account in GnuCash? Hopefully I stated my problem clear enough. Thanks
> in advance for any help!
>
> Jari
>
>
> ------------------------------
>
> Message: 2
> Date: Sun, 24 Oct 2010 14:02:43 +0200
> From: Peter Boosten<peter at boosten.org>
> Subject: Re: How to set up a shared account in GnuCash?
> To: Jari P??kk?<jari.paakko at gmail.com>
> Cc: gnucash-user at gnucash.org
> Message-ID:<6A1263F1-93C4-42EB-A27C-47DF0F43F3A6 at boosten.org>
> Content-Type: text/plain;	charset=iso-8859-1
>
>
> On 24 okt 2010, at 12:39, Jari P??kk? wrote:
>
>> However, now I should still somehow record my girlfriend's half of the expenses. How should I do this? One solution would be to create a new account representing my girlfriends expenses and put her half of the expenses there. Again, I'm not quite sure, if this is the right way to do this.
>
>
> Either the account is part of your assets, or it's not.
>
> If you just want to record your part of the shared account, then you should not record your girlfriends'. But then your records will not be the same as the banks'.
>
> You could record your girlfriends' deposits as income, but you will also have to record her withdrawals as costs (probably create a separate account for that), or otherwise your assets are incorrect.
>
> The question is: what's the use of a shared account, when all has to be registered separately?
>