How do I create an Expense sub-account?

[ph hermes]

here's a basic question.

when you transfer money from your wallet (your account) to your kid's
account is it still your money or does it belong to your kid?

the reason i ask is for my sole proprietor business i transfer assets from
time to time but it's still all my money. so i can transfer asset money
from personal ckecking to business checking etc. al within asset section.

if, however, i transfer money to my sister, that money is gone and no
longer an asset and i don't control it. i might not ever get it back or
have use of it again.

so, if your kid's money is really your kid's money it needs to not be your
asset after you've paid their allowance.

so, in expenses, where your kid's allowance would go, you could set up
several expense accounts (i do this with dividends in an income account...
when the money comes in it's in dividend account, when it's cash it then
gets transferred into sweep account, if it's reinvested it goes back into
brokerage account).

parent expense account: Kid allowance
child account: money in allowance
childe account: money out (spending) allowance

and then you create reports for just those expense accounts. but it's an
expense to you no matter if he spends the money or not.

make sense?

        ph


~:~:~:~:~:~:~:~:~:~:~:~:~:~:~:~:~:
writer ~:~ photographer ~:~ book designer
resident manager
paulahendricks.com

On Wed, Apr 20, 2016 at 1:17 PM, Larry Evans <cppljevans at suddenlink.net>
wrote:

> On 04/20/2016 10:27 AM, ph hermes wrote:
>
>> you have to move the money out of one type of account into the other. the
>> children of the parent are the same type of account (i.e. expense/
>> income).
>> so the money is in your wallet. then you transfer it to expense/
>> allowance,
>> where it is no longer your asset/ equity.
>>
>>          ph
>>
>>
>>
> I'm sorry Paula but I still don't understand.
> Is there anyway you can post an actual example such
> as I've done on my Dropbox?  I feel sure that would
> help a lot in my understanding.
>
> Thanks for the effort :)
>
> -Larry
>
>
>>
>> ~:~:~:~:~:~:~:~:~:~:~:~:~:~:~:~:~:
>> writer ~:~ photographer ~:~ book designer
>> resident manager
>> paulahendricks.com
>>
>> On Wed, Apr 20, 2016 at 7:17 AM, Larry Evans <cppljevans at suddenlink.net>
>> wrote:
>>
>> On 04/20/2016 07:46 AM, yary wrote:
>>>
>>> It's a split transaction: The transfer of assets from Parent1 to Kid1
>>>> is also Parent1's expense and Kid1's income.
>>>>
>>>> Conceptually, I think of an allowance as a recurring bill from Kid1 to
>>>> Parent1- that would let you set up all the accounts once and every
>>>> time the bill is due, GnuCash would account for the asset, expense,
>>>> and income adjustments. But I am *very* new to GnuCash and can't tell
>>>> you how to do that.
>>>>
>>>> (I am in the process of loading GnuCash with transactions, bills,
>>>> invoices from another system- just a couple days into using it.)
>>>>
>>>> -y
>>>> _______________________________________________
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>>>> gnucash-user at gnucash.org
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>>>> -----
>>>> Please remember to CC this list on all your replies.
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>>>>
>>>> I've tried to do this here:
>>>>
>>>
>>> https://www.dropbox.com/s/r0qp1199b9i1xtt/family_subaccounts.gnucash?dl=0
>>>
>>> however, I'm unable to get Kid1's allowance (and income) to
>>> come from Parent1's Cash In Wallet :(
>>>
>>> Maybe someone else can show how this could be done?
>>>
>>> -regards,
>>> Larry
>>>
>>>
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>>
>
> _______________________________________________
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