Project Accounting - Am I Doing It Right??

[Bob Brush]

Maybe you could set the property as a customer and use the business features, entering the splits on the invoice or bill, that way you could duplicate common transactions, and use the customer summary report, and take advantage of auto fill 



-Bob
-- 


> On Apr 8, 2014, at 11:43 PM, datavet <datavet at gmail.com> wrote:
> 
> Hello!
> 
> I have spent much time reading the forum on how to accomplish accounting for
> projects. I would like to ask if I am proposing to do this correctly using
> GnuCash.
> 
> This is what I understand:
> 
> If I have two project I would like to track, I would need to create accounts
> for each project. So, for example, I would have:
> 
> Project One (P1)
> 
> P1 Inventories
> P1 Inventories: Land held for development
> P1 Inventories: Property held for remodeling
> 
> P1 Work in Progress
> P1 Work in Progress: Land and land development
> P1 Work in Progress: Accumulated allocations, land, and land development
> costs
> 
> ++++++++
> 
> Project Two (P2)
> 
> P2 Inventories
> P2 Inventories: Land held for development
> P2 Inventories: Property held for remodeling
> 
> P2 Work in Progress
> P2 Work in Progress: Land and land development
> P2 Work in Progress: Accumulated allocations, land, and land development
> costs
> 
> Is this the correct way to accomplish job costing in GnuCash? Would this
> allow me to preform separate P&L reports on each project?
> 
> Thank you very much for any guidance or suggestions.
> 
> Kate---
> 
> 
> 
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