Fwd: 50% split

[Michael Ferrara]

Since it sounds like you have already totalled his & hers accounts on
paper, there is no need to split every entry to get a running total in
GnuCash.  Simply write a closing entry for the partnership account that
distributes the gross income (and expenses) equally among its two
shareholders.  The distributed income (and expenses) can then reside in
"retained earnings" accounts; one for his profit & one for her profit.  The
account type may be equity, or it may be an income/expense account.  If you
are feeling ambitious, you could write a closing entry containing
income-expenses/shareholder for each month and have a nice summary at the
end of the year.

There exist ways to cull an SQL database if you need to automate this
process for finer granularity, say to manage totals by day or week, but
that is beyond the scope of this thread.

On Sun, Jan 25, 2015 at 4:55 PM, vincent <vincent.fortune at live.com> wrote:

> Hi, new to Gnucash. I have what I hope is a simple question.. My Partner
> and I run a small business (tiny!)We have to file 3 returns, one for the
> partnership and one each for ourselves. So I've done the income/expense
> account for the partnership (our joint earnings and expenses) and its a
> 50/50 split. I'm sure there must be a really simple way to divide
> everything in half and allocate half the income and half the expenses to an
> account in my name, and an account in her name - but I can't find a way,
> apart from going through and transferring 50% from the partnership to my
> account, and 50% from the partnership to her account - with every entry.
> There must be a way, right? Thanks in advance, and step by step if you
> could, I am unused to accounting in any case.
>
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