[GNC] Operating Checking Account in Overdraft

[Adrien Monteleone]

GnuCash lets you create any account you want and put it (pretty much) wherever you want.

Contra-Accounts are sometimes desired to be where they are as true contra-balanced accounts. Others prefer or need them on the opposite side of the equation. I think the user should decide, and not be prompted by the software or overridden by the software.

If you would prefer a contra-asset to be a liability, then simply create a liability account instead and place it there.

While the idea is basically sound, it isn’t necessary to accomplish the task and introduces complications and more code to maintain. In short - we can do what we need to do without any fluff now.

Regards,
Adrien

> On Aug 2, 2018, at 2:10 PM, Christian Kluge <frakturfreak at gmail.com> wrote:
> 
> Am 02.08.2018 um 16:41 schrieb Mike or Penny Novack:
>> On 8/2/2018 9:21 AM, Adrien Monteleone wrote:
>> 
>>> I have sent an email to the Australian and New Zealand Chartered
>>> Accountants asking them the question.
>>> 
>>> I will let you know what they say.
>>> 
>>> Kind Regards,
>>> 
>>> Murray
>> 
>> This is something we here in the US can't help much on because we do not
>> have "two way checking accounts". We might have checking accounts with
>> "overdraft protection" but with those the credit balance situation is
>> assumed to be temporary. We might have lines of credit accounts against
>> which checks can be written (normal way to make disbursements from the
>> account) but with these the balance is almost never* debit, the account
>> a liability. What we don't have is accounts designed to be used either way.
>> 
>> Michael D. Novack
>> 
> 
> 
> In Germany this account would also be listed as a liability on the
> balance shield.
> 
> In fact the accounting program I use at work lets you select secondary
> account types so that accounts with a negative balance get assigned a
> new position on the other side of the balance sheet.
> 
> Maybe this could also be a possible idea for GnuCash.
> 
> Kind Regards,
> 
> 
> Christian Kluge
> 
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