On 11/23/2017 10:07 PM, Suresh Saragadam wrote:
Hi Buddha,
Thanks for the reply,Now I understood may be it is not a general accounting
practice.
To my requirement i am not required to record double entry,
I know that i am spending from my pocket there is no need for income or
profit and loss statement,
I just want to track my Expenses. and accounts Payable.
Gnucash is a package for doing double entry bookkeeping.
That said, were you very experienced with it, you could get it to do
what you want (I, for example, have some sets of "virtual" books).
However, those are still (actually) double entry. It is just that the
"rest of the books" not defined beyond the minimum needed.
In your case, the other side (the credit side) would be "paid by" <<
check, cash (literally), kind (barter), and assumed liability >> Weird
as that might seem, those could be of type Income. The virtual entity in
this case a sub business of your business that pays the bills for your
main business, receiving money from your main business to do that.
But like I said, you should FIRST have a good understanding of double
entry bookkeeping and lots of practical experience doing it before you
play around like that. Else you will make too many mistakes.
Michael
_______________________________________________
gnucash-user mailing list
gnucash-user@gnucash.org
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.
