[GNC] Another "multi-account" logical issue - any advice on how to register this?
Michael or Penny Novack
stepbystepfarm at comcast.net
Mon Sep 30 14:17:18 EDT 2024
> As I also have an account for "Postage expenses", how would I have to
> register the 10 bucks I spent for shipping, so that it also accounts
> towards the postage expenses in general?
As I have been doing books for 501(c)3 organizations, an issue (printing
and postage is a line item on the 990/990-EZ)
In traditional double entry bookkeeping there can be only one CoA
hierarchy.
You would need to divide "shipping" into two child accounts <<one for
postage; the other for non-postage shipping expenses>>. You would of
course have a bunch of "postage" children scattered among expense
accounts. You could produce a report containing just these (and their
total) using an "Statement of Revenues and Expenses Report" (what a
non-profit calls "Profit and Loss") by including Just these accounts for
postage).
Michael D Novack
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