How do I create an Expense sub-account?

[DaveC49]

Hi Larry,

What I posted is essentially the same as what Ian posted earlier and in the
file in your dropbox. I had some problem downloading it a couple of days ago
as I was away from home and had a lousy internet connection which was at
best intermittent. I was also using the email digest rather than Nabble so
it was difficult to track all the posts. I have downloaded it now and the
basic account setup you have looks good.

You  have a several transactions with different treatments for the transfer
of assets from Parent to Kid. The one you labelled monthly allowance which
details the expense to you and the income to Kid1 is as I was suggesting
too. If you need to record that level of detail and it is useful to you
that's the way to go otherwise the simple transfer between the Parent Asset
account and the Kids asset account is perfectly fine from a general
accounting perspective as well.

I think the aside about putting things under an Equity account confused
matters as it doesn't work or really even make sense from an accounting
perspective. Wm's explanation of T-accounts was a bit vague but I see you
found the accounting tools site which has a pretty good explanation. They
are mainly a teaching tool in accounting.

Good Luck

David






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