small starting business - initial sell of shares, capital raised and related questions

[321654]

You are correct Dustin, there is a misunderstanding here.
Someone asks for very specific help and he is basically told to F off.
If you can not or do not want to help someone, why even bother typing
that letter you just typed?

If this list is not for answering questions, then what is it for?
(previous questions are all rhetorical... )


On 28 January 2013 22:07, Dustin Henning <The00Dustin at gmx.net> wrote:
>         I think there is a misunderstanding here.  Your accountant doesn't
> need to tell you how GnuCash works, your accountant needs to tell you how
> the books should look.  If people here know what your books looked like,
> they could easily tell you how to create that configuration in GnuCash.  As
> a business, it is important that your books match whatever legal
> requirements may apply, so the fact that there is more than one way to do
> this (perhaps even more than one right way) doesn't mean that anyone here
> can tell you how it should look in your instance.
>         Dustin
>
> -----Original Message-----
> From: gnucash-user-bounces+the00dustin=gmx.net at gnucash.org
> [mailto:gnucash-user-bounces+the00dustin=gmx.net at gnucash.org] On Behalf Of
> Krokodill Geena
> Sent: Monday, January 28, 2013 13:55
> To: gnucash-user at gnucash.org
> Subject: Re: small starting business - initial sell of shares, capital
> raised and related questions
>
>>
>> Honestly, Mike's advice (to get an accountant) is REALLY on target. It
> sounds to me as if you're in over your head, and frankly, unless you like
> litigation and tax authority audits, then you'd be well advised to be
> well-advised. By a professional.
>>
>> David
>
> Who told you I do not have an accountant?
> Accountant will not tell me how gnucash works. This is what I am asking from
> you guys: how can this "case" be resolved in gnucash?
>
> Here is the original question:
>
> Hi
> I need some help with the following setup
>
> 1) Small business starts out with 0 EUR (all accounts are empty)
> 2) "Shares" of get issued and N investors buy the shares - lets say total of
> 10 000 shares, 1 EUR per share
> 3) Equipment is purchased with the money received from 2)
>
> We need to keep track of how many "shares" are issued (there will be more
> shares issued, if there is need for additional capital) We do not care who
> has how many shares - something else is used for this
>
> My question is, what is the correct way to set this up in gnugash?
> I am new to gnucash so please keep it simple but detailed enough so I can
> set up the accounts properly :)
>
> Here is what I did
>
> I attempted to resolve this little "problem" by setting up following
> accounts:
>
> Equity:Share Capital*
>
> (* Share capital or capital stock (US English) refers to the portion of a
> company's equity that has been obtained (or will be obtained) by trading
> stock to a shareholder for cash or an equivalent item of capital value. For
> example, a company can issue shares in exchange for computer servers,
> instead of purchasing the servers with cash.)
>
> Assets:Current Assets:BusinessAccount (renamed form Checking because nobody
> uses cheques over here and I never actually seen one in my life, except in a
> american movie)
>
> Everything started to look good but there is still one small problem.
> We know, how much cash each one of us has deposited as initial startup
> capital (and received a share in co) but there is no way to track how many
> total "shares" are actually issued.
>
> What if I set up a Assets:Investments:XYZ and enter number of shares with 0
> EUR per share?
> Will this start causing problems down the road and mess up our reporting at
> some later date?
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