Sharing customers between GnuCash files

[Benjamin Soffer (SLF)]

It seems to me that, from a bookkeeping standpoint, one could do what Mr. Ralls (and MSBA) has suggested but within the file where all the law firm's other accounts are kept; there is no need to create a separate file to keep track of the trust account transactions.  I would add, however, that rather than "[creating] sub accounts in one or the other" (as MSBA apparently prefers) there should be created subaccounts on the asset side AND corresponding subaccounts on the liability side.

Ben Soffer

-----Original Message-----
From: gnucash-user [mailto:gnucash-user-bounces+bsoffer=soffer-law.com at gnucash.org] On Behalf Of John Ralls
Sent: Thursday, January 21, 2016 11:44 AM
To: Macho Philipovich <macho at resist.ca>
Cc: Derek Atkins <warlord at MIT.EDU>; gnucash-user at gnucash.org
Subject: Re: Sharing customers between GnuCash files

You don't need to copy over the customers and invoices. Dunno what you mean by files.

Follow the process from the MNBA: You just create a simple book with the bank account(s) that actually hold the money and a corresponding Liability account for each. You create sub accounts in one or the other, one for each client "matter"; I guess that means that if you're doing both a will and a suit for client X you have a sub-account for each. When you get a check from the client you deposit it in the trust account and record the deposit in the trust account book. When you invoice a client and transfer money from the trust account you record that as a withdrawal from the trust account book and in your firm's book you treat it as a payment just as if the client had written you a check directly for the invoice. All of the "business" stuff lives in the firm's book. The trust book has only simple deposit and withdrawal transactions. I'd recommend using the client's name and check number as the description on deposits and the client's name and your invoice number for the description on withdrawals (if you use one transfer for multiple invoices use the split memo field instead) to make a nice audit trail, but you might have a different way of working or specific guidance from your bar association about that.

Regards,
John Ralls
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