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

[Dan Black]

With subaccounts, when you reconcile be sure to check the box to include 
subaccounts and it's fairly easy to reconcile it.

Dan


On March 13, 2023 10:47:31 AM Murugan Muruganandam 
<m.muruganandam at hotmail.com> wrote:

> hi Mort
>
> The  expenses account can be granular and can be tracked seperately.  for 
> Asset account unless you have separate bank accounts, you cannot separate 
> it in your accounting system.
> You can use sub accounts, but it would be a huge overhead for you to 
> reconcile your bank statement with individual buckets you have created.
>
>
>
>
>
> Saludos Cordiales
>
>
> Murugan
>
> ________________________________
> From: gnucash-user 
> <gnucash-user-bounces+m.muruganandam=hotmail.com at gnucash.org> on behalf of 
> Mort Q <mortqqq at gmail.com>
> Sent: Monday, March 13, 2023 11:35 AM
> To: Robert Heller <heller at deepsoft.com>
> Cc: gnucash-user at gnucash.org <gnucash-user at gnucash.org>
> Subject: Re: [GNC] Can a bank account have sub-accounts?
>
> Hi Robert
> I do have lots of expense accounts for repairs, catering, office expenses,
> utilities, etc, and income accounts for fund raising, donations,
> memberships, etc. so we can track income and expenses easily.  The GnuCash
> reports really help people see where money is coming from and going to.
> That's one of the reasons I was thinking of having the sub accounts - the
> bank reports will be like an overall report but with the underlying break
> down of fund allocation.  Does that make sense?
>
> Every transaction is double entry, I think (one account credited and the
> other debited) e.g. a bill payment will credit Liabilities:Accounts Payable
> and debit Assets:Current Assets:Bank Account.  Is that what you mean?
>
> Thanks
> Mort
>
> On Tue, 14 Mar 2023 at 00:05, Robert Heller <heller at deepsoft.com> wrote:
>
>> 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
>> > _______________________________________________
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>> >
>>
>> >
>>
>> --
>> Robert Heller             -- Cell: 413-658-7953 GV: 978-633-5364
>> Deepwoods Software        -- Custom Software Services
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>>
>>
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