GNUcash setup

[Mike or Penny Novack]

On 3/2/2018 8:01 PM, Adrien Monteleone wrote:
> Thanks Dave,
>
Of course can do this. But let me put on my "business analyst" hat for a 
moment and ask a question.

If you were set up this way and you accidentally entered a transaction 
with one account in the tree of one entity and the other (mistakenly) in 
an account belonging to another entity, how would you diagnose the 
problem? << you would be in balance >>

Michael D Novack

> To clarify, what I was suggesting was this:
>
> Assets
> Assets:Personal
> Assets:Entity1
> Assets:Entity2
>
> with appropriate sub-accounts under each.
>
> In line with this you’d also have:
>
> Expenses
> Expenses:Personal
> Expenses:Entity1
> Expenses:Entity2
>
> with appropriate sub-accounts under each, and so on for Revenue and then Liabilities and Equity as needed.
>
> Each of those ’second levels’ should probably be marked as placeholders to avoid a mess.