How to model this in GNU Cash?

Rodlogic admin at rodlogic.net
Thu Jan 16 12:18:59 EST 2014


A new GNUCash user here and only somewhat familiar with double-entry accounting. 

I want to use it for family budgeting purposes. The basic budget configuration is easy enough and the existing manual covers most of what I need. However, I have a couple of specifics that I would to also like model in GNUCash.

My wife and I both have our own incomes and personal budgets (we do whatever we want with our money), but we also have a joint account that we use to pay for our joint expenses (e.g. cable, cleaning, rent, etc). We did a one time calculation of our expenses, added a little buffer on top of that and every month she deposits into our joint account 100% of this budgeted amount (say it’s 1000.00). We live in Europe and these accounts are in Euro. I work remote and earn my salary in the US so I have an account in US Dollars there and so does she, although no income in the US. At the same time she deposits 100% of the amount in Euro’s in our joint account, I deposit the equivalent of 50% of that into her US account in dollars. And we are squared.

How should I model this monthly 1000.00 euro deposit? The obvious answer would be as an income account. But how should I model the fact that I need to deposit 500.00 euros into her US account? I want to make sure that this 50%/50% is balanced properly.

I also want to have my own personal budget, investments etc as a different gnu cash file, but this should not be part of the joint budget, just the fact that I must pay her 50% of our monthly budget in US dollars.

thanks for any advice!




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