[GNC] Consolidation of family member accounts

[Paras Desai]

Hello sirs,

1. I am adopting GNC for my family members (me, wife and son)
2. There are lots of transfer takes place between family members. For example, I transfer an amount to wife account , for her expense or investment. Same for son.
3. At present I can adopt two approach for such transfer
Either I can show transferred amount as gift expense or create account receivable in name of family member.
4. Neither is a good practice, as at family level, it will erroneously show duplicate expenses (mine as gift to wife and, wife's actual expenses with gifted fund)

So my question is

Is there a way in GNC to consolidate family members account to arrive at net worth of entire family?

When we do consolidation of accounts, we eliminate inter transaction between members (as we do between a parent and subsidiary company in business scenario)

I will be happy to explore the way, if there is any way I can achieve this in GNC

Thank you

Paras