equity fund accounts

[David T.]

Marilyn, I think you are using the term 'equity' for what are actually referred to as 'assets.' The income you receive (regardless of whether it is a special gift, regular wages, or money you find in the street) increase your assets. You record these increases in Asset accounts, and you can have as many Asset accounts as you want.

You may want to have separate Income accounts for the different types of income you have (e.g., Income:Special Gifts, Income:Wages, and Income:Street-Findings), so that you can track those sources. Then, you can have numerous Asset accounts to track where the income gets placed.

HTH,
David

--- On Sun, 1/9/11, Maf. King <maf at chilwell.net> wrote:

> From: Maf. King <maf at chilwell.net>
> Subject: Re: equity fund accounts
> To: gnucash-user at gnucash.org
> Date: Sunday, January 9, 2011, 6:00 AM
> On Sunday 09 January 2011 13:46:44
> Marilyn Graves Kimple wrote:
> > On Jan 8, 2011, at 2:03 PM, David T. wrote:
> > > Please note that I Am Really Not An Accountant,
> but ...
> > > I'm pretty sure you're misusing the term 'equity'
> here.
> 
> >
> > It would ordinarily go into the bank account (asset)
> and an income account.
> > My example would be special income, like a gift that I
> would post to my
> > 'personal allowance' equity account, if I could set
> one up.
> >
> 
> When I receive a gift of money, I have a transaction
> between income:gift and 
> Assets:Bank:reserved_Savings.
> 
> Were I ever to be given a non-cash asset, eg Rich old Uncle
> Fester leaves me a 
> Van Gogh in his will, then I suppose the txn would be
> between Income:Gifts 
> and Asset:Artworks.
> 
> I can't see how equity (in the GC sense) is involved at
> all. in both cases, my 
> net worth goes up (which is kinda "equity"), but I don't
> involve the GC 
> equity accounts tree.
> 
> HTH,
> Maf.
> _______________________________________________
> gnucash-user mailing list
> gnucash-user at gnucash.org
> https://lists.gnucash.org/mailman/listinfo/gnucash-user
> -----
> Please remember to CC this list on all your replies.
> You can do this by using Reply-To-List or Reply-All.
>