A transfer between two asset accounts (your account to your wife's) doesn't need any further entries, unless you're considering these transfers as some kind of bookable event. Are you paying them, or just transferring them funds? If the latter, then just two entries crediting/debiting the two assets.
When your wife receives the funds this way, there's no change in the family net worth. When she buys something, the transaction includes her bank account and the proper expense account. David T. On Aug 13, 2023, 8:05 PM, at 8:05 PM, Paras Desai <desaipa...@outlook.com> wrote: >Hello sirs, > >1. I am adopting GNC for my family members (me, wife and son) >2. There are lots of transfer takes place between family members. For >example, I transfer an amount to wife account , for her expense or >investment. Same for son. >3. At present I can adopt two approach for such transfer >Either I can show transferred amount as gift expense or create account >receivable in name of family member. >4. Neither is a good practice, as at family level, it will erroneously >show duplicate expenses (mine as gift to wife and, wife's actual >expenses with gifted fund) > >So my question is > >Is there a way in GNC to consolidate family members account to arrive >at net worth of entire family? > >When we do consolidation of accounts, we eliminate inter transaction >between members (as we do between a parent and subsidiary company in >business scenario) > >I will be happy to explore the way, if there is any way I can achieve >this in GNC > >Thank you > >Paras > > >_______________________________________________ >gnucash-user mailing list >gnucash-user@gnucash.org >To update your subscription preferences or to unsubscribe: >https://lists.gnucash.org/mailman/listinfo/gnucash-user >----- >Please remember to CC this list on all your replies. >You can do this by using Reply-To-List or Reply-All. _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
