[GNC] Owning stocks which are not publicly quoted - which account type suits better?

[Kalpesh Patel]

Most of the work flows are one time only so ongoing managing would be minimal – like setting up the commodity (security) for it. In your case it will be some made up name for the commodity (name of the company would be a good representation). And then creating an asset account for it to designate how many share (may be one share) you own of that commodity for the overall monetary values (your portion of the partnership).

 

For the dividend part is the only thing would be repeating workflow but for that there is “duplicate” transaction operation which should make it easier to denote its receipt of it once a correct one is created (there are tutorials on it; and this list). That is correct, dividends would have account of type income that would be two operation during one transaction when dividend is received; duplicate and then update it to match the payout. If amount stays same then it is just a matter of updating the date on the duplicated transaction.

 

If you are taken back by GNC (or accounting overall) as to being an unknown then don’t be afraid because of that. Use the right tool for the right situation and if you don’t know how to use that tool then there is always fine manual for it to read. With GNC, you can create temp book (files) to learn and then delete them so that you can start afresh again until you get it correct.

 

 

From: Boniforti Flavio <boniforti.f at gmail.com> 
Sent: Wednesday, September 25, 2024 2:23 AM
To: Kalpesh Patel <kalpesh.patel at usa.net>
Cc: gnucash-user at gnucash.org
Subject: Re: [GNC] Owning stocks which are not publicly quoted - which account type suits better?

 

Hi Patel.

Actually, the complexity of setting it up and managing it as a "stock" is what keeps me from doing it.

F.




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https://bonny-j.bandcamp.com

 

 

Am Mi., 25. Sept. 2024 um 01:18 Uhr schrieb Kalpesh Patel <kalpesh.patel at usa.net <mailto:kalpesh.patel at usa.net> >:

If you want to track it properly then you would want to set it up as a "stock" and all of the workflows, such as setting up the security, that goes with it. This will then flow correctly into your report, like advance portfolio, if you ever wanted to generate them.

What makes you believe it shouldn't be?

-----Original Message-----
From: Boniforti Flavio <boniforti.f at gmail.com <mailto:boniforti.f at gmail.com> > 
Sent: Tuesday, September 24, 2024 4:57 PM
To: gnucash-user at gnucash.org <mailto:gnucash-user at gnucash.org> 
Subject: [GNC] Owning stocks which are not publicly quoted - which account type suits better?

Hi.
I'm partner and own stocks of the company I work for. This company is not on the public market.
The stock value is defined once per year and dividends are then paid out.

Do I understand correctly, that I don't have to set up a "stock" type account for this, as those stocks are not publicly traded?

And the dividends are an account of type "income" - right?

Thanks,
F.

https://www.instagram.com/boniforti_music
https://soundcloud.com/boniforti_music
https://bonny-j.bandcamp.com