Hi, First message here. Be gentle - thanks!
First time user of GnuCash as well. AND, making things worse, I don't know much about accountancy either. Hence this post. I run a small letting agency, and have always done my accounts on a series of spreadsheets. It's worked for a number of years but my accountant if getting fed up with what is effectively a very disparate bespoke system and asked me to start using a proper accounting package. GnuCash looks good and I'd like to make it work for my business. I'm not an accountant and hence am not /au fait/ with accountancy terminology, but am learning fast. I think I've understood some of the basics of GnuCash (I've been playing with it all afternoon) but can see that setting things up correctly will be a major part of success or failure. My agency handles client money; a tenant will pay me their rent (£1000/month), I raise an invoice for my agency fees (£100) and pay the rest on to the landlord (£900). Am I best advised to set up each property as a separate account file or as a separate Account under "Current assets"? Bear in mind that of the rent payment above then only £100 of it is company money; £900 belongs to the landlord from the moment the payment is made to me. For what it's worth, my business has two bank accounts; one Clients Money Account (where the rent is paid into) and one Company Account (from which I pay bills from suppliers and so on). Other posts on here suggest that I should treat the payment as being £100 of income for my company and £900 of loan, and I pay off the loan to the landlord who exists as a creditor of mine. I understand this concept but am not sure how to set this up on GnuCash. I am sure I can learn, but helpful tips would be welcomed. Thanks in advance for any help. Oli. -- Sent from: http://gnucash.1415818.n4.nabble.com/GnuCash-User-f1415819.html _______________________________________________ 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.