[GNC] Do I Have Use for Liability Acounts

Ed Greenberg edg at greenberg.org
Fri Jan 17 16:34:29 EST 2025


I don't use liability accounts for my bills. I just debit expense and
credit checking. I used liability accounts for the mortgage, installment
loans, and things like that.

On Fri, Jan 17, 2025, 16:10 Griffin <griffin at bernevyl.com> wrote:

> I am using Gnucash for my home accounts. I won't be trading for the
> foreseeable future as all my retirement money was stolen in a scam.
>
> Do I need to use liability accounts for any of my home accounting accounts?
>
> If I understand correctly, liabilities are usually, outside of trading
> purposes, just for companies to track long-term expenses.
>
> Do I not need to use them, or would I use them for contracted expenses,
> like rent, utilities, etc.
>
> Or are they just overkill for home accounting.
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