Look, we can tell you how to use gnucash to do double-entry bookkeeping.
But it is beyond our remit to tell you how to set up books for this or
that type of entity.
For example, I lack the "qualifications" to advise you the way a CPA
could. But I do know something about it, so I will give you some hints
as to what you need to learn in order to DIY.
You are describing an entity that is a "partnership". So you should want
to set up the books for this property that way. Notice that I am talking
about the entity, not your personal books, because it will be much
easier that way. Obtain a text (paper or on-line) along the lines of
"accounting for partnerships 101".
If you have a set of books for this entity, you should NOT have to split
each and every transaction! Depending on the frequency you want to do
this, every month, or every quarter, or annually you can allocate each
partner's share (of income, of expenses, etc.). If you have a separate
set of books for the entity, on your books your share of the property
would be an asset (like other forms of investments)
The reason I am unwilling to give advice in more detail (the way the
accountant would) is that exactly how done depends on lots of things.
For example, is this a rental property? Do either or both of you live in
it? Etc.
Michael D Novack
On 5/16/2023 4:24 AM, John Dimitriadis wrote:
Hello,
I have a Gnucash file, which I use to track expenses for a jointly owned
property.
Under Assets, I have two accounts. One for myself and one for the other owner.
Under Expenses, I have the Property, and under that I have sub-accounts for the
various types of expenses (eg. Taxes, Service Charges, Maintenance, Bills etc).
A number of the expenses transactions have split entries. Either because
something was paid by both owners, or because I keep more detailed records.
I am trying to come up with a Transaction Report that will summarise:
(a) Total Expenses
(b) Breakdown of Expenses per sub-Account (i.e. type of expense)
(c) How much was paid by each owner, of each type of expense
The problem I am facing and have not managed to solve no matter what I have
tried, is that for the Split Transactions, when Sorting with “Other Account”, I
just get a groups for “Split Transaction”, and thus lose the transparency of
the Sub-Account or if I structure the Transaction report differently, I lose
the transparency/sum for the account from which the payment was made.
Any help would be welcome.
Thank you!
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