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

[Robert Heller]

At Mon, 13 Mar 2023 23:55:05 +1000 Mort Q <mortqqq at gmail.com> wrote:

> 
> 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.

Clearly :-).

You are not fully understanding double-entry bookkeeping and how GnuCash works 
and is generally meant to be used.

Yes, you can have sub-accounts under Bank Account, but probably should be 
looking at creating a budget.

You should *also* create additional accounts for the various expenses and so 
on as well.

> 
> Thanks
> Mort
> _______________________________________________
> gnucash-user mailing list
> gnucash-user at gnucash.org
> To update your subscription preferences or to unsubscribe:
> https://lists.gnucash.org/mailman/listinfo/gnucash-user
> -----
> Please remember to CC this list on all your replies.
> You can do this by using Reply-To-List or Reply-All.
> 
>                                                                                                         
> 

-- 
Robert Heller             -- Cell: 413-658-7953 GV: 978-633-5364
Deepwoods Software        -- Custom Software Services
http://www.deepsoft.com/  -- Linux Administration Services
heller at deepsoft.com       -- Webhosting Services