[GNC] Can a bank account have sub-accounts?

[Mort Q]

Hi all
I act as Treasurer for a community organisation, and want to look for a way
that GnuCash can subdivide the money in the bank account into planned
expenses e.g. a few members do ongoing fund raising for equipment, so could
I make a sub-account of the bank account called "Equipment enhancement"?
When making a deposit, allocate that money to "Assets:Current Assets:Bank
Account:Equipment Enhancement" instead of the currently-used
"Assets:Current Assets:Bank Account".

Currently, we just have the one account called "Bank Account" in the Assets
tree, and I keep a separate spreadsheet with the allocation break up.  I
have to remember to do the extra work to keep the spreadsheet up to date.
In my previous life, I learnt that it was better to have a single point of
truth for data.

I am thinking I will end up with an account tree like
Assets:
   -Current Assets:
        -Accounts Receivable
        -Bank Account:  (will still need this to be reported on for audits,
etc, as a single account)
              -General Funds
              -Equipment Enhancement
              -Saved for something else
              -etc
Does this make sense?  Or am I missing something?
Or creating a nightmare that will come back and bite me when I try to do
reports, etc later?

Clearly, I am not an accountant, and a self-taught GnuCash user.

Thanks
Mort