You aren't going to be happy with the answer. Well, part it. See,
without realizing it, you are asking for TWO things:
1) Can I have these multiple "entities" in one set of books, be able to
have, for example, assets for entity one, assets for entity two, etc.
The answer to THAT question is yes, and you can run reports
selecting just the accounts related to each entity in the report for
that entity.
2) Can I show these grouped by entity instead of all the asset accounts
together (under assets), all the liability accounts (under liabilities),
etc.
The answer to THAT question is no. If all in one CoA then have to
follow the rules for how a CoA is organized. That's not specifically a
gnucash thing.
This is a tradeoff situation related to work flow, which you decide is
easier. Keep in one set of books but have a lot more work setting up the
reports with account inclusion/exclusion for each entity. Or Keep in
separate books and now the reports are simple default (since that CoA
has only accounts of that entity) and have the work of adding up the
totals from the Balance Sheets (etc.) of all entities.
Michael D Novack
PS --- If you are new to double entry bookkeeping I strongly suggest the
"separate books" option since each will be simpler to set up, more
closely follow examples, and the task of adding up the corresponding
pieces (of each entity) is straightforward. Also a factor to consider,
if you are keeping all in one set of books there is an error you could
make that gnucash would not catch for you << no double entry software
would, since the fundamental rules of double entry not violated by this
mistake >> You COULD accidentally enter a transaction belonging to
entity one in accounts of entity two, even partly in one and partly in
another. And it's really not if you will do this but when you will make
a mistake of that sort. Finding/correcting an error of that sort not
going to be easy.
PPS --- Those of us whose experience goes back to the days of pen and
ink on paper will probably know how to have "subsidiary books" and how
the totals of such subsidiary books enter the main set of books. In
other words, you COULD have separate sets of books and then a "main" set
of books, the reports from which would give you the totals. I suggest
not trying this unless with the guidance of a text that deals with
things like "petty cash", "sales", etc. which might have subsidiary sets
of books connected to a main set of books.
On 5/30/2024 1:31 AM, Luis Sini wrote:
TL;DR
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
I would like to add "ASSETS" and "LIABILITIES" account types as
sub-accounts but GnuCash only allows it if they are "Top Level Accounts"
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
Hello to everyone,
I make money personally, I own a couple of properties, and I also design
and manufacture audio devices. These are basically different entities, and
I know that I can create a separate GnuCash file for each one of those
ventures. But, I wanted to create 1 GnuCash file that will allow me to have
a comprehensive view of all my financial activities while being able to
track each venture separately.
I've gone ahead and created the following structure:
1. PERSONAL WORK
1. INCOME
2. EXPENSES
2. PROPERTIES
1. PROPERTY A
1. INCOME
2. EXPENSES
2. PROPERTY B
1. INCOME
2. EXPENSES
3. AUDIO DEVICES
1. INCOME
2. EXPENSES
What I would like to do is add "ASSETS" and "LIABILITIES" sub-accounts to
"PERSONAL WORK" and each of the "PROPERTIES". Unfortunately, GnuCash only
allows me to assign sub-accounts types as either "Income" or "Expense"
unless the parent account is not set up as either Assets or Liability? I
can make an account an "Asset" or "Liability" if the account is a "Top
Level Account". Is there any way to get around this limitation?
Thanks in advance.
Luis S.
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