[GNC] envelope method, equity sub-accounts, cash vs. hybrid vs. accrual accounting

Marilyn Graves Kimple mgkimple at yahoo.com
Sun Aug 9 20:02:28 EDT 2020


 Sounds promising. It seems to me if I posted a check, for example, directly to a "tithe payable" liability account I would not need a separate tithe expense account. For something like "household maintenance" or "emergency" reserve funds there would be a fairly large credit balance sitting there most of the time, but I guess that would work, too. I will try it out and see (after I have rested my brain some). Thanks. 
Best regards, mgk
    On Sunday, August 9, 2020, 06:26:09 PM EDT, doncram <doncram at gmail.com> wrote:  
 >For Marilyn, please see that recognizing tithing expense and tithing payable (liability) does ?>exactly what you need.  You don't need a separate spreadsheet, I am pretty sure.  Your Balance >Sheet will show your regular assets, any liabilities that you already recognize, and now also >this Tithing Payable.  In exactly the amount that you were contriving to have an equity >subaccount report.  I further understand you were, in your previous system, allocating out all >of your equity to a few purposes, i.e. more or less in your words you were dividing out any new >net income (which increases equity) into tithing and a couple other purposes.  Whatever those >other purposes are, probably they could be recognized as liabilities too.

  


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