[GNC] Help request starting out with Gnucash

[Michael or Penny Novack]

On 5/5/2024 11:55 AM, ph hermes wrote:
> what are the accounts you have set up in assets? it sounds like you only
> have your equity balance. in my asset section, i have all my bank accounts,
> petty cash, etc. as well. and i have separate accounts for each of my
> equity assets (often sub accounts)... not just 1 account called equity.

Equity assets?????

a) Equity reflects OWNERSHIP. You can indeed have sub accounts under 
equity, and need them when there are multiple owners (partners, 
shareholders, etc.)

b) You may be confusing "equity assets" (assets that represent equity in 
something) and "equity" in your books. Under "assets" you could have 
investment assets that are of type "equities" meaning representing an 
ownership interest in something (stocks, for example) as well as ones 
that are of type "liability" (some entity owes you something, say a 
bond). Do not confuse with "liabilities" and "equity" in your books. 
Keep in mind "from whose perspective". From YOUR perspective those 
investment holdings are just assets (though you might want them under 
separate parents).

Michael D Novack