[GNC] Report Options - Closing Entries Pattern

[Liz Dodd]

On Sat, 22 Jan 2022 13:34:10 -0500
Louise <louise.x.ellis at gmail.com> wrote:

>  I like
> to keep one file with multiple bank accounts and businesses together.
>  So, I wanted to use @bookkeeping, @rental and @personal etc in the
> description field to be able to pull a P&L and filter only to show
> transactions with @bookkeeping or @rental in the description.  Then I
> would be able to separate a P&L for each rental or business.

I keep several sets of books. It makes it much easier for my
accountant. I have to pay for their services by the hour, so having my
information close to what they want to see helps with that.

Think about selling one of the rental properties. You want to be able
to produce accounts showing what you really paid on upkeep and the true
income. A P&L report is just a summary and your purchaser might want
more details. You would not want them to know how much cash you had in
the bank, nor what other businesses you operate. Such information could
change the price offered.

Your tax rules may be clear on separate accounts. I need to show
separate bank accounts and separate accounting. 

Liz