On Wed, Jul 12, 2023 at 02:51:39PM -0700, Vincent Dawans wrote: > Leaving aside the why you need 2 sets of books, I'll just focus on the how. > > First you need to decide if the money in and money out really needs to be > classified as income and expenses in your first set if books (the main bank > account) or can more simply be treated fully as pass-through. If fully > pass-through, then the following... > > *For example we might have 'income' into the current account as* > *follows:-* > * Scarfe Trust for roof 750.00* > * Talk and Tea collection 205.00* > * Tea concert 410.00* > * Carol singing 35.00* > > Is not recorded as income in your main book but instead as a liability > towards the building fund. So you create a building fund account under > liability and when your receive money for the building fund you debit your > bank account and credit that liability account. Then when you are ready to > write a check for the building fund, you look at the balance in that little > account and write the check for that amount. When the check is cashed it > will come as a credit on your bank account and a debit on the liability > account. That liability account becomes a sort of running ledger you can > provide showing money collected then transferred to the building fund over > time. > > On the building fund side, you can either book the money coming in as > income directly on the date received from the main account, or if you want > the detail of all the original transactions, then create a receivable > account under assets with the same detailed transactions from the other > side booked against income, then that gets zeroed when the check is > deposited. > > The opposite movements then are made for payments from the building fund to > the main accounts of needed. > Thank you Vincent, I think you have outlined an approach that will work for me. I will start trying it out and see how things go.
-- Chris Green _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: 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.
