Church Use of GNUCash

Aaron Laws dartme18 at gmail.com
Thu Dec 21 16:03:46 EST 2017


On Thu, Dec 21, 2017 at 9:44 AM, Mike or Penny Novack <
stepbystepfarm at dialup4less.com> wrote:

>
> PS: The strictly proper method of having a liability "donor restricted
> funds" can ALWAYS be used.


I have restricted funds in my personal accounts, and I thought the
"correct" way to deal with this was Asset subaccounts. For several reasons,
this was unsatisfactory, and pushed me to the discovery of using a
liability to represent the encumbrances. I always thought it was hacky
because that's not what others said to do, but it solved a number of issues
for me very nicely.

My question: can you say more about using a liability (rather than asset
subaccounts) for restricted funds? Perhaps a link or two, or (ideally) a
reference to some gaap? That would be excellent!

Thanks for your continued enrichment of the public at large through the
gnucash-user mailing list. You are a tremendous resource.


More information about the gnucash-user mailing list