[GNC] Tracking designated balances in the total checking account balance?
Bruce Irving
eaglebruce2003 at yahoo.com
Thu Jan 9 08:46:15 EST 2020
>The issue I am wrestling with is how to deal with what I will call
designated funds that our organization tracks internally but are just
part of the one checking account.
>To explain further.
>Say there is a total checking balance of $1000.00. Then say there are
two standing funds one with $200.00 and the other with $400.00.
Conceptually I have:
>Fund A $200.00
>Fund B $400.00
>Undesignated $400.00
>Total (as the bank statement shows) $1000.00
Nate:
What I have done is to have placeholder: CheckingThen under that I'll have Fund A, Fund B, General (or Undesignated)Checking $1,000.00
Fund A $200.00 Fund B $400.00 General $400.00
This way, you can view or make transactions to each fund while Checking shows the total balance. To reconcile, select Checking and check Sub-accounts. If I need to balance the reconciliation, I do NOT use the feature in reconciliation as it always puts that transaction in Checking! I manually make the transaction in General
Bruce Preach the Gospel wherever you go. If necessary, use words.
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