Gnucash for a small partnership scenario

[Mike or Penny Novack]

Dr. Muhammad Masroor Ali wrote:

>Dear All,
>I have been using gnucash for maintaining accounts related to a school
>account for quite sometime. 
>
>Now, I want to use it for a small partnership (large family) scenario where
>the members put in their monetary contributions to a common account.
>Expenses are paid out of a common account.
>
>Incomes come in as crop sales, rents and similar items and transferred to
>the common account.
>
>With all my experiences, I am getting confused at some point. The part about
>individual contributions, common expenses, income distribution to members
>are the most difficult ones. I am often getting scenarios with reversed
>signs (negative where it should be positive), and unbalanced funds.
>
>Do you think you could point me to some kind of tutorial or a comprehensive
>example to tackle the above mentioned scenario?
>
>  
>
Muhammad, your problem isn't "how to use gnucash to keep the accounts of 
a partnership" but "how to account for a small partnership" (however you 
were keeping the books, even the old fashioned way, pen and ink on paper).

Get yourself a "Accounting for the Partnership" book. Then we will be 
able to help you use what you learn from that book to use gnucash for 
keeping the books. BTW, such books might well have examples directly 
related to farming as parent/child farm partnerships are common.

Michael;