https://lists.gnucash.org/pipermail/gnucash-user/2024-April/111588.html Michael or Penny Novack wrote:
> I don't think you are picturing what I meant by both ways. Yes, it is very clear but given my experience with other financial software I don't agree endlessly dividing the COAs into unknown future categories is a useful approach. Multidimensional accounting is a method of organizing financial data that goes beyond the traditional chart of accounts. It involves using dimensions, such as departments, locations, or projects, to categorize transactions and provide more detailed and operationally relevant reporting. This approach eliminates the need for complex account codes, making the general ledger easier to use and reducing errors and delays. The multidimensional chart of accounts (COA) is an account numbering system that has multiple segments defined within an account structure. These segments, or dimensions, enable tracking and reporting at a greater level of detail. This type of COA is typically used by larger organizations that need to track their financial transactions from more than one identifier within the general ledger. In summary, multidimensional accounting offers a flexible and powerful way to track and report on your business, providing more detailed and operationally relevant information than traditional accounting methods. Note: AI-generated answer. Please verify critical facts. Thank you to Vincent Dawans for a workable implementation in GnuCash demonstrated at https://github.com/dawansv/gnucash-custom-reports?tab=readme-ov-file#tag-prefix https://lists.gnucash.org/pipermail/gnucash-user/2024-April/111596.html Michael or Penny Novack wrote: > a) Accounts of type "expense" and accounts of type "income" are really the > same type of temporary account of fundamental type equity... They really > differ just in the sense of their normal balance, debit for expenses and > credit for income. We get the top level types "income" and "expense" only > so that we do NOT have to specify them for the P&L. We have a different reading list but that is a useful concept to understand. Regards > _______________________________________________ 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.
