On 5/4/2018 9:24 AM, Matthew Pounsett wrote:
This doesn't sound straightforward at all. What's complicated about treating joint contributions to the household coffers as "income" to the household? Treating that income as ever-increasing equity would confuse P&L and cashflow calculations, wouldn't it?
AS DESCRIBED this apartment/house partnership has no income. The P&L report not so strange if you consider some of the alternative names for this report that not or profit entities use. Thus "Income and Expenses" except that as described, no income.
BUT --- there COULD be income. Let's say that this were a house or large apartment, and in addition to the partners living there and sharing expenses they sometimes rented out a room to a non-partner. THAT would be income to the partnership.
BTW -- there might be other, actual business partnerships, even ones intended to make a profit, that initially and perhaps for some time would have no income. Imagine a partnership that came together for the purpose of buying some real estate with currently un-inhabitable buildings, fixing this up, and later selling it for a profit. Could be a project that took a couple of years to complete. Do you not see that pretty much until the end there would be no income?
Michael D Novack _______________________________________________ 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.
