Top level account without any type (or file links)

[Mike or Penny Novack]

Dr. Muhammad Masroor Ali wrote:

>Dear All,
>Looks like gnucash does not allow you to link between separate files. To
>circumvent the problem, let us say that we want to create three separate
>accounts (A, B and C) at the top level. Under each of A, B and C, we want to
>create our usual accounts (Assets, Equity, Expenses, Income and
>Liabilities). But when I try to do this, I can not create a top level one
>without any type. You have to choose one (Liability, Income, Asset ...)
>type. 
>
>I need to do this since the three entities A, B and C have some kind of
>dependency relationship among them which needs to be reflected. One solution
>will be to have Income.A, Income.B and Income.C, Equity.A, Equity.B and
>similar ones. But this is counterintuitive for the scenario.
>
>Any suggestion will be appreciated.
>  
>
You had best try to describe what you are trying to do not in terms of 
what gnucash is or is not allowing but in more general terms.

EACH set of books has ONE top level Assets, Liabilities, and Equity (may 
have Income and Expense but these are really temporary Equity).

It appears this question might be related to your earlier one about 
partnerships (and you think that's how it would be done). I will again 
mention the need for you to read some fundamental texts of 
accounting/bookkeeping especially related to doing this for a 
partnership. AFTER you have done so perhaps we can answer remaining 
questions but this is not going to be practical question by question. 
But I'll give you a little bit.

a) The PARTNERSHIP would have one set of books. Whether or not the 
partners have their own books a separate matter.

b) The partnership books would be dividing up each partner's share under 
equity. But please not that this is normally NOT done transaction by 
transaction. Instead, the effect on partnership interests done at 
intervals (monthly, quarterly, annually, whatever is preferred or 
required by local law).

c) Normal for partners to be making additional contributions or taking 
from projected income. That's known as a "draw". If the partner is 
keeping his or her own set of books would be recorded there also BUT not 
by an automatic link (remember, the partner might not even be bothering 
to keep books).

Please -- obtain and study an "accounting for partnerships" text. That 
alone probably a semester course (among the many semesters of courses 
were you studying to be an accountant). Gnucash or any other accounting 
package is a tool automating much of the bookkeeping work but you still 
have to learn how to set up books and what sort of transactions just 
like you were doing the books by hand pen and ink on paper.

Michael D Novack, FLMI