How do I create an Expense sub-account?

[ph hermes]

maybe this shows how much i don't know, but basically i ignore the equity
account altogether (i did use it for opening balances). it may be
technically correct to do what you say, but no one has asked to report
equity info for anything, so i just use the types of accounts i'm familiar
with: assets, income, expense, liability.

i think my main point however, was to get money that he had no control over
out of accounts that would continue to show it as his "asset/ equity,
etc.). to me, once it's gone it's gone and should be allocated to a place
in his accounts that doesn't add to his assets, income, equity.

      ph


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

On Sun, Apr 24, 2016 at 7:23 PM, Wm <tcnw81 at tarrcity.demon.co.uk> wrote:

> In article <
> CAMvKNK2tNN6N4Dyox9afmwXzzQKmw20qp5ZzHro1GThUYDwaVA at mail.gmail.com>
> ph hermes <phsfca.hermes at gmail.com> wrote:
> >
> > 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.
>
> It may be different where you are but from an accountinng POV (in
> the UK at least) transfers between a sole proprietor business and
> the owner should go through equity, how you do your taxes is up to
> you :)
>
> --
> Wm
>