[GNC] How to track Family expenses ?

Adrien Monteleone adrien.monteleone at lusfiber.net
Fri Mar 13 22:44:21 EDT 2020


> On Mar 13, 2020 w11d73, at 9:33 PM, Long <Phamhoanglongvn at outlook.com> wrote:
> 
> Hello,
> 
> 2 - What if my wife transfer some money to me ? in GnuCash, you will make a
> transfer from "Assets:Wife" to "Assets:Me".
> My assets will increase, Wife's Assets will decrease.
> Balance sheet will show you your current assets balance, equity, liability.
> By that way, my wife will wonder why her "Retained earnings" and Equity are
> not Balance with Assets. She will ask herself : am i forgot to enter
> transactions ? Remember what you said in the last comment, you choose only
> "Person" for Balance Sheet Report.
> So, To know what going on, i need to setting up Balance Sheet report for
> whole persons, to get exactly report.

Addressing this part only, a transfer of assets doesn’t affect Retained Earnings. "Retained Earnings = Income - Expenses", so an asset transfer isn’t even part of the equation.

If assets decrease then either Liabilities decreased as well, or Equity decreased. Retained Earnings are not the only component of Equity.

The Balance sheet would still work out.


Regards,
Adrien


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