Can GNU Cash keep track of expenses of multiple businesses?

[Dave Niezby]

If you use one set of books for all your businesses you may also have to worry about it looking like you're commingling  funds.  That doesn't sit well for mr tax man.    


My personal recommendation is a separate file for each business. Just like you would do if you were managing paper books.   
-- Dave

On Feb 1, 2012, at 7:09, Mike or Penny Novack <stepbystepfarm at mtdata.com> wrote:

> 
>> One GNUcash file, with three top-level accounts (one for each business).
>> 
>> This would NOT be the recommended setup for business reasons, some would
>> argue there is more transparency/independence in records in having three
>> separate files.
>> 
>> HOWEVER, there have been comments over the time though in the GNUcash
>> forums where some people have favoured this way for multiple
>> 'businesses' (or e.g. three separate accounts for three individuals in a
>> household) because they found the amount of 'internal' txns between said
>> business units meant having them within one gnucash file was easier for
>> them to enter/record txns, rather than having to record any 'transfer'
>> as an expense from one then go and record that same amount as an income
>> in the other.
>> 
>> 
> This is really a matter outside the scope where we should advise. A great deal depends on the legal forms of organization. No matter how convenient, if these businesses are legally separate entities they should have separate books. If it's just a matter of a single individual with several dba's (no legal existence) then perhaps a matter of preference/convenience.
> 
> SEEK ADVICE FROM YOUR BUSINESS/TAX LAW ADVISOR
> 
> Michael
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