My account structure looks something like this:
+ Cash On Hand
+ Bank Accounts
- Checking
- Savings
- Certificate of Deposit
+ Savings Goals
- Honeymoon
- European Vacation
+ ...
+ ...
I'm not sure why you would treat it as a liability, but to be honest I have no
accounting background so maybe that is the best way. I just treat my savings
goals as bank accounts. They're merely logical accounts used to meet a certain
monetary goal, and since the money in a savings goal doesn't actually leave the
physical account it was transferred from, I still consider it an asset and
"Cash On Hand." I basically treat a savings goal as a logical holding account
so that I don't try to spend those funds.
What is your reasonng for making them liabilities? Maybe I'm not thinking of a
savings goal in the same way you are. Plus, it's been awhile since I actually
used one in quicken, so I might not remember correctly how they worked there.
Perhaps you could refresh me?
Thanks,
-Scott
On Thu, Mar 30, 2000 at 11:10:57AM -0500, Lauren Matheson wrote:
> Hello.
>
> Just wondering what the consensus is for migrating savings goal
> accounts. One idea I have
> is like this: Create liability accounts for each 'savings goal',
> possibly as sub accounts
> under a common liability of 'savings goal.' Then, create a sub account
> of the bank account
> as an asset and use it for marking funds to savings. This would keep
> the actual account
> clean and it will match bank statements line by line (something I found
> frustrating in
> quicken) and you could see the amount you have unallocated in the
> account by looking at the
> total listed on the main gnucash account list screen. How does that
> sound? Have there
> been better ideas suggested? A feature that would be handy to make this
> kind of transition
> much easier would be a search and replace for account names in a
> register.
>
> Lauren Matheson
> Queen's University
>
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