equity fund accounts

Derek Atkins warlord at MIT.EDU
Mon Jan 10 10:42:16 EST 2011

Marilyn Graves Kimple <mgkimple at yahoo.com> writes:

> On Jan 9, 2011, at 9:35 AM, Anthony Dardis wrote:
>> no problem. Just create the various sub-accounts under the account where the money "really" lives: you might have a savings account that represents what the bank has, then sub-accounts under that for the various designated purposes.
> Unfortunately where the money "really" lives is divided somewhere between 3 bank accounts. I actually need equity sub-accounts rather than asset sub-accounts. I think I will have to set it up just to see how equity accounts behave. 

Again, repeating the choir here, this is *NOT* Equity.  These are banks,
and assets.  Equity is the meta-balance you have based on Assets and
Liabilities.  It's a COMPUTED number and has no basis in reality except
as the balancing number between your Assets and Liabilities.  Income and
Expense also affect your Instantaneous Equity (which you compute via a
report like the Balance Sheet).

So let's take a step back and stop talking about equity but instead talk
about your money (and value).  Where is your value stored currently?
You said that it "is divided somewhere between 3 bank accounts".  Okay,
so you create three Bank accounts in Gnucash:


And then apply your balances to these accounts (you can use
Equity:Opening Balances as the balancing split for balances that exist
prior to the start of your accounting regimen).

To see your Instanteous Equity you run a Balance Sheet, which will
report that your IE is the sum of these three accounts.

If you want to see your total Assets, well, just sum up Assets!  (This
should be visible in the Chart of Accounts.

Hope this helps,

> Thanks for your response--
> mgk

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       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
       warlord at MIT.EDU                        PGP key available

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