On Sun, Nov 24, 2019 at 10:14 AM Art Chimes <artsonl...@gmail.com> wrote:
> I have an expense account called "charity:non-cash contributions" where I > record these (potentally tax-deductible) donations, but I don't know how > best to record the other side of the transaction. > … Note: I do not want to be tracking the purchase cost of every item I > donate, and don't want to muck about in the pond of depreciation either. > But I can't imagine I'm the only person who has wondered about this. Since you are not tracking the items as assets, their value must be counted as income or expense, as part of the donation transaction. You could record them as income, because you are bringing something into your accounting that wasn't already there. Or, you could record them as negative expenses — if you donate, say, food, record them against your expense account for food. This second option seems reasonable to me because the sum of your expense account will then more closely track the amount of food you purchased for your own use, excluding the donated food. You should make your own choice based on what seems useful to you — which balances you want to be able to see easily. Either will work and either is an improvement on leaving things in the Orphan account. _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
