On 5/23/2020 11:56 AM, Adrien Monteleone wrote:
To continue on Dale’s notes:
Regardless of the real-world treatment of the funds, you can create a
sub-account in GnuCash under your bank account and treat the funds as
segregated. That will also make reporting easier as you might not need to use a
tagging system, but you might still find tagging useful for some other
dimension of categorization. (maybe you want tag transactions as ‘payroll’,
‘utilities’, etc.)
This is not completely unlike the situation of a non-profit receiving
a grant. Can only be used for certain purposes. In this case, when a
qualifying expense has been paid, also transfer the amount between two
liabilities, one for unconditionally owed (not used yet for purpose) and
the second for "has been used for purpose, now conditional" (might be
forgiven). The non-profit would instead have credited a "grant income"
account.
JUST using a partition in the bank account might not reflect the actual
situation. Sure, you can transfer between the partitions when a
qualifying expense has been paid. But you do not know if that part of
the loan will have to be paid back << what is not used for a qualifying
expense WILL have to be paid back >>
Michael D Novack
PS: As usual, with the disclaimer that I lack credentials to give this
sort of advice. But THIS is a case where I bet most of the pros are
having problems deciding how should be done.
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