[GNC] Reporting on expenses of multiple revenue strams

Michael or Penny Novack stepbystepfarm at comcast.net
Sun Dec 1 18:50:37 EST 2019


On 12/1/2019 6:23 PM, David Cousens wrote:
> Rob
>
> AFAIK there is no equivalent of classes.
>
> In Gnucash you can use the sub-account capability to provide the separation.
> e.g. Under Income you can have a subaccount for each revenue stream and
> similarly under Expenses if you need to match expenses to a particular
> revenue stream. You could also separate assets and liabilities in the same
> manner if necessary.......

BUT, there is another consideration for this particular situation, the 
LLC owning several "businesses". You might want to sell one of the 
businesses. So although  perhaps a little more work, I would probably 
opt for separate books. Of course the LLC itself would have a set of 
books, each of these businesses being an "investment" (an investment in 
a separate entity; though in this case not legally separate).

That way the entire books of one of these "income streams" could be 
shown to a prospective buyer.

BTW, in my case I keep books for VIRTUAL entities. For example, I took 
money and installed a solar system. I want to see how this is working 
out as if it were an investment. Thus an entity (a virtual one) that 
borrowed its capital from us, pays interest on the loan, pays off loan 
principle, etc. Has some pseudo expenses like effect on my taxes (sale 
of SRECs taxable) and effect on insurance premium, etc. Has pseudo 
income like tax credits, portion of our electric bill we DON'T have to 
pay, etc.


Michael D Novack



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