[GNC] [newbie] how to treat a gift?

[Robert Heller]

Certain types of accounts (like income) are handled "negatively": They
increase as money is "removed". That is money is moved from "income" (gifts,
salary) to an "asset" (checking account). Both accounts show an increase
(positive) ammount. This might seem strange, but should make sense, once you
think about it. Generally income accounts are not "real" accounts, the
way a checking account is. The actual "money" is in the checking account. The
income acconts are accounting records of where the money in the checking
account came from. 

At Tue, 3 Sep 2024 21:54:58 +0200 Boniforti Flavio <boniforti.f at gmail.com> wrote:

> 
> Hi David and thanks for your reply.
> As I'm really a newbie, please excuse my struggle in getting "debit" and
> "credit" right with regards to the various accounts :-(
> 
> So for a gift I received, let me see if I got it right:
> 
> 100 as "deposit" on my checking account;
> 100 as "income" on my "gifts received".
> 
> For salary:
> 
> 5000 as "deposit" on my checking account;
> 5000 as "income" on my salary account.
> 
> Thanks,
> F.
> 
> https://www.instagram.com/boniforti_music
> https://soundcloud.com/boniforti_music
> https://bonny-j.bandcamp.com
> 
> 
> Am Di., 3. Sept. 2024 um 21:21 Uhr schrieb David Warren <david at warren1.net>:
> 
> > Hi.  EVERY Gnucash entry is DOUBLE ENTRY.
> >
> > But you've answered your own question.
> >
> > Debit Assets:Current Assets:Checking Account for $100
> > Credit the income account of your choice but Income:Gifts Received is
> > exactly what I would use too!
> >
> > For Salary, Debit Checking Account, Credit Income:Salary Received.
> >
> > On Tue, Sep 3, 2024 at 2:22 PM Boniforti Flavio <boniforti.f at gmail.com>
> > wrote:
> >
> >> Hi all.
> >> I've received 100 bucks from a relative as a gift, which he sent to me via
> >> bank wire transfer.
> >> In my GnuCash accounts I do have one called "Income:Gifts Received" and I
> >> also of course have the "Assets:Current Assets:Checking Account", where
> >> the
> >> money from the gift finally landed.
> >>
> >> How should I proceed to register this gift I received? I don't see any
> >> reason to do a "double-entry", because the money is not coming from one of
> >> my accounts - it's just getting INTO one of my accounts from external...
> >> Same question for my salary, of course.
> >>
> >> Thanks for your help,
> >> F.
> >>
> >> https://www.instagram.com/boniforti_music
> >> https://soundcloud.com/boniforti_music
> >> https://bonny-j.bandcamp.com
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-- 
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