naming and numbering accounts

[Gregory Forster]

Hi Brant
     You can manually set up GNUcash anyway you want to.  Personally, I 
didn't much care for the preset account trees.  I never did, even when I 
used "Peachtree Complete Accounting."  I'm  not familiar with the 
Canadian GIFI account codes.  I use the American GAAP. 
(10000,10010,10020, etc. for assets (both fixed,  and current) and 
contra assets; 20000 series for liabilities (both long term and 
current), 30000 series for Owners' Equity, 40000 series for income and 
50000 series for expenses.)  For example:  When creating the account for 
10100 Checking; in the Account Name field, I put 10100 Checking; in the 
Account Code field, I put 10100; in the Description field, I put 
Checking.  That way, I keep it in the order I want it.

     Using a numerical order also allows you to sub categorize.  For 
example: the account 20000 Liabilities can have 20100 as Current 
Liabilities and 20200 as Long Term Liabilities  (both having 20000 
Liabilities as the parent account.)  Then, you can have 20110 as your 
FWD account and 20120 as your SWD account (both having 20100 Current 
Liabilities as the parent account).  FWD and SWD are Federal and State 
Withholding payroll taxes.  20210 may be an auto loan and 20220 could be 
a mortgage, where 20200 Long Term  Liabilities is the parent account.

     It's best to lay out your account, sub-accounts, sub-sub accounts 
strategy on paper first.  You can always add later, hoping you left room 
to add more accounts.

Hope that helps a little.

Greg


On 4/16/2015 10:10 AM, Brant LeBaron wrote:
> I have just started with Gnucash, and am beginning with my personal
> chequing account.
> Once I am more familiar with the program, I intend to set up an account for
> a small business.
>
> When I go to create a new account, I see a field marked "Account Code".
> When I create the business account I intend to use the GIFI account codes
> in accordance with Canadian practice.
>
> Is there a template in Gnucash that already includes these codes?
> If not, if I create accounts from scratch and include the the GIFI code in
> the "Account Code" field, is there a way of having the account code show
> when the account is opened? (and if they do not show, what are they for?)
>
> If I decide to title an account with a GIFI code—for instance,
> 1201-Accounts Receivable—would this create any conflict if I have the same
> code in the "Account Code" field?
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