[GNC] Adding ASSETS & LIABILITIES to sub accounts

[Michael or Penny Novack]

> I doubt it. If they are all reported as part of the one tax return they are
> enterprises rather than entities. Entity finances are normally kept
> separate with separate tax returns, bank accounts and cashbook files
> (despite what can be done).

How reported on taxes not a factor on whether multiple sets of books kept.

Remember, I go back to the days of pen and ink on paper. Subsidiary sets 
of books not unusual. There might be "petty cash" (which might even have 
ts own bank account), a "cash book"  (and perhaps a physical cash box) , 
etc. The TOTALS from these subsidiary books  ended up in the main 
ledger, and THAT from where taxes figured, etc. (the subsidiary books 
not involved with tax filings, etc.)

However -- today, those who wanted multiple sets of books so as to make 
easy separating enterprises << by treating as entities >> probably would 
want to skip that step as unfamiliar with the work flow process of 
formally "closing" into the main ledger. Easier to just total outside of 
gnucash. Since I usually advocate for "formal" this might surprise you, 
but I'd think doing it "right" would definitely require finding a text 
that provided examples << say how a petty cash set of books connected to 
the main ledger; usually done each time the petty cash fund was 
refreshed* >> Seeing it done for one sort of subsidiary books would 
guide for other sorts.

LOL -- you can even use gnucash to track a VIRTUAL entity. For example, 
I wanted to track our solar system << how long did it take to pay itself 
off >> figured correctly, time value of money, affect on our property 
insurance premium, taxes it made us liable for, etc. The easiest way was 
to treat the solar system as if it were an entity operating on borrowed 
capital (borrowed from us), paying off this loan by getting tax credits 
for us, selling SRECs for us, paying our electric bill, etc.  << at the 
present time, paid off, so accumulating a virtual "repair and 
replacement fund".

Michael D Novack

* If done THEN (when being "refreshed") the total of debits and credits 
going to main books and to the petty cash fund will be the same -- the 
amount needed to refresh the petty cash fund to its original amount is 
the total of expenses since the last time. In other words, the same 
transaction in both main books and petty cash books except debits and 
credits reversed.