equity fund accounts

Marilyn Graves Kimple mgkimple at yahoo.com
Sun Jan 9 08:58:27 EST 2011

On Jan 8, 2011, at 2:29 PM, Yawar Amin wrote:

> I’m not sure I understood your question. Could you clarify:
>> […] 
>> My old program allowed me to designate an equity account as a "fund”,
> Over here, are you talking about a fund account, like a mutual fund...? 

No, it is not a mutual fund. "Fund" is the terminology my old program used for accounts like assets & liabilities where you can take money out of the account as well as deposit it. I want to be able to set up equity sub-accounts that I can directly add or subtract from  without going through an income or expense account.

>> meaning I can make deposits or withdrawals and roll over funds from month to month, unlike income and expenses. 
> Every GnuCash account has this feature, whether income/expense/asset/…. The rightmost column in every account register will show you a running balance since the account was opened.

But does this work with equity accounts? Or can I set it up to do so?

>> For example, at the end of the month I can debit any 'profits' to an expense account ("accruals"-- I may be misusing the term) and divide the credit among several equity accounts I have set up.
> So I’m seeing two ways to interpret this, since ‘profits’ is in quotes–do you mean (1) you realise any gains on your mutual fund account and post those to equity accounts, or (2) you have profits from your business operations which you post to equity? 

(2) This is my personal household accounts, and the 'profits' are what I have left over at the end of the month after I pay my monthly expenses. The question is, can I post 'profits' directly to equity sub-accounts or is it just an automatic process?

Thanks for your response--

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