[GNC] keeping entities separate

Mike or Penny Novack stepbystepfarm at dialup4less.com
Mon Aug 13 09:52:44 EDT 2018


On 8/13/2018 8:52 AM, patrushkha via gnucash-user wrote:
> I just started using Gnucash and thought I'd gotten through the learning curve; I have 2 small businesses and entered both of them as well as my personal data, but discovered they are all mixed together. At least I think so, I'm not versed enough to understand how I got there or how to untangle entities.
> Can anyone suggest a process to separate them OR do I have to start all over?
>
> I'm also willing to hire someone to get me on track- Los Angeles area.
>
> Thank you so much,
> Pat

Oh dear. You are describing THREE entities here so ideally you should 
want to have three sets of books If you are showing somebody the set of 
books for one of the businesses (say you are selling it) no reason for 
this prospective buyer to see anything about the other business or your 
personal finances.

I can't tell you whether better literally to start over or to 
disentangle (temporarily having FOUR sets of books). There are other 
questions you need to answer. For example, do these businesses have 
their own bank accounts? Or are you perforce going to remain somewhat 
entangled.

Michael D Novack

PS: If one or both of these "businesses" are small/minor it WOULD be 
possible to carry them within your main personal books. And still be 
able to see/report on each separately. BUT be advised that the chances 
of error would be very high because neither gnucash nor any other 
bookkeeping system would prevent you from entering a transaction in the 
wrong place.





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