How to accommodate my own house construction costs in gnucash accounts?
Mike or Penny Novack
mpnovack at mtdata.com
Wed Mar 30 12:20:36 EDT 2016
On 3/30/2016 7:29 AM, Yaaros wrote:
> I use gnucash for my personal finance management. Now I'm going to start
> house construction for my own use, and would like to account all expenses
> ie. materials, labour, etc. in gnucash. So, please help me to identify which
> accounts should be created and in which categories also.. Thanks.
I'm going to take a slightly different tack.
Because DURING house construction (and for a record of the project) you
are going to want a great deal of "clutter all these details, but that
would represent a great deal of clutter on your personal books I would
choose to open a SEPARATE set of books for the construction phase. Then
at the end of that phase (house complete) would close that set of books
into your personal books. Then you would always be able to reference the
house construction project without having all those details cluttering
your main books.
So some questions. How are these things (materials, labor, etc.) being
paid for? Your usual checking account or a special account for the
project (perhaps checks drawn against the "line of credit" account the
bank would want you to have prior to converting that liability to a
permanent mortgage when the house is completed -- that would be usual at
least this side of the pond)
Michael D Novack
More information about the gnucash-user
mailing list