2010-12-21 GnuCash IRC logs
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09:58:39 <warlord> mythicalbox: invalid URL (expired)
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16:38:00 <ElBano> please help friends
16:38:04 <ElBano> i have two accounts under 2010
16:38:08 <ElBano> one main one, and under that, an expense one
16:38:15 <ElBano> the expense one has a lot of withdrawels
16:38:29 <ElBano> but in the father of it, the main one, those withdrawels are showing as deposits
16:49:12 *** warlord-afk is now known as warlord
16:49:23 <warlord> ElBano: yes, this is called "double-entry accounting".
16:49:30 <ElBano> nevermind, i got it:)
16:49:33 <warlord> I suggest you go read the GnuCash Concepts & Tutorials.
16:49:35 <ElBano> warlord, do you do tax stuff too?
16:49:46 <warlord> I'm not an accountant.
16:49:50 <ElBano> k
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18:50:55 <LordMetroid> Does anyone know how to account debts?
18:51:11 <LordMetroid> I made an expense account called debts but I suspect that is terribly wrong way to do it
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18:52:47 <jsled> LordMetroid: what do you mean? debts from others to you? debts like a loan or credit card that you owe to someone else?
18:53:11 <LordMetroid> Debts I owe
18:53:19 <jsled> are called Liabilities.
18:54:01 <LordMetroid> So I make a liabilities account and transfers from the checking account to the liability account? As simple as that?
18:54:09 <jsled> there might still be an expense account involved for things like mortgages or loans that have interest or other expenses.
18:54:15 <LordMetroid> But what about interests and opening balance?
18:54:43 <jsled> LordMetroid: is it a credit card or a loan?
18:54:47 <LordMetroid> Loan
18:54:52 <jsled> http://code.gnucash.org/docs/guide/chapter_loans.html
18:55:05 <jsled> In short: the Liability:Loan account is going to track the principal.
18:55:13 <LordMetroid> Ah, thank you
18:55:49 <jsled> And transactions would be something like Assets:Checking -> Liabilities:Loan (principal pay-down) + Expenses:Interest (interest portion) [+ Expenses:PMI, …]
18:56:39 <jsled> credit cards work basically the same way, fwiw … Liabilities:CreditCard -> Expenses:Whatever when you buy stuff
18:56:57 <jsled> then Assets:Checking -> Liabilities:Credit Card, Expenses:Service Fees when you make a payment
18:58:15 <LordMetroid> How do I setup the Liabilities:Loan, I mean there is a certain opening balance but where does that opening balance come from?
18:58:18 <LordMetroid> Equities?
18:59:10 <warlord> LordMetroid: yes
18:59:18 <warlord> Equity:Opening Balance (just like everything else)
18:59:19 <jsled> if it's a new loan, it'll come from assets as in http://code.gnucash.org/docs/guide/loans_mortgage1.html
18:59:27 <warlord> ... assuming there was a balance before you started your books.
18:59:28 <jsled> if it's historical, yes, Equity
18:59:55 <LordMetroid> All good, thank you for helping me out on this
19:02:04 <warlord> you're welcome.
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21:33:47 <talexb> Just trying to find out what kind of stuff I can do at the end of the year to start with a fairly clean accounts file.
21:34:03 <talexb> http://wiki.gnucash.org/wiki/WishList#End_of_financial_year_close_issues suggests that there may not be a way to do this yet.
21:36:49 *** warlord-afk is now known as warlord
21:37:00 <warlord> talexb: why do you want to start fresh?
21:37:48 <talexb> Good question.
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21:38:29 <talexb> I'm concerned about having the transaction file get larger and larger ..
21:38:37 <talexb> Affecting performance.
21:38:48 <warlord> Are you actually seeing performance degredation?
21:39:17 <warlord> Or is this a "i suspect there will be therefore I am being proactive" situation?
21:39:31 <talexb> I'm trying to be proactive.
21:39:39 <talexb> But perhaps this isn't an issue.
21:39:59 * warlord is running with a datafile with ~5 years of transactions w/o a problem.
21:40:09 <talexb> Just like I want to clean up a temporary directory every once in a while.
21:40:36 <talexb> OK -- I have transactions since March 2010 .. so I guess I'll be OK for a while.
21:41:04 <talexb> Thanks warlord .. much appreciated.
21:41:13 <warlord> My personal history goes back to 1/1/07. My corporate history back to 1/1/03
21:41:36 <warlord> Yeah.
21:41:39 <warlord> You'll be fine
22:04:33 <warlord> anyways, i'm off
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