[GNC] How to best set up account structure for multiple Tax IDs?

[David Cousens]

Jens,

This is strictly an accounting question as the accounting solution will be
very dependent upon the legislation governing the trust in your
jurisdiction.

Generally speaking an entity whch has to file a separate tax return is
likely to be a separate legal entity and as such should really have its own
set of books. As you indicated there is no entity  top level  in GnuCash so
the only way you could keep the accounts in a single book is as you proposed
using  subaccounts for each entity under the top level accounts. This would
make producing separate reports for each entity fairly complex. 

Becasue of the possible legal implications with the trusts, I would consult
an accountant and/or lawyer familiar with your jurisdiction, who can advise
you how the records should be kept for legal compliance and whether books
should be totally separate. There are usually fairly serious sanctions on a
trustee if you do the wrong thing with trust accounts, even accidentally.

You can run with multiple instances of GnuCash, open at the same time so it
is concievable to operate several books and switch between them as required
to create the corresponding entries in each set of books when you transfer
money between entities .

David Cousens



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David Cousens
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