[GNC] Consolidation of family member accounts

[Paras Desai]

Hello Micheal

Thanks a lot for your kind reply.
Yes I am maintaining three separate books for three family members, as that is the way to go.

Your idea of debiting equity is good. May need to create a sub account of equity  specifically to capture related party transaction (as they call in legal parlance 😀). This will certainly take care of duplication!! This is excellent suggestion. I have to transfer all past transaction from expense or receivables to this equity account.

Generally, I consider equity as a holy account, as it is a result of all we do with all other accounts, but this case could be an exception.


As regarding consolidation, Of course I can arithmetically add three books having avoided duplicates, but it is a good feature to have if GNC can have an engine to do this!  Of course this is just a desirable and not an essential feature.

Thanks a lot for your suggestion

Paras