2015-10-06 GnuCash IRC logs
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09:41:51 <ravigehlot> The GNUCash documentation is beautifully laid out. It is, by far, one of the BEST documentations I have come across. It is well put together.
09:42:12 <ravigehlot> It is a true enjoyment to read it because it flows right.
09:50:17 <gjanssens> ravigehlot: thanks for your appreciation :)
10:00:30 <warlord> ravigehlot: thanks
10:00:59 <ravigehlot> I had my first run in with GnuCASH last night.
10:01:35 <ravigehlot> I was able to import 1 year's worth of transactions from my bank account into GnuCASH.
10:02:03 <ravigehlot> Unfortunatelly, my bank charges for OFX access.
10:04:22 <ravigehlot> When times comes for me to do another QFX import into my existing account file in GNUCash, will it append to my existing transactions? So for example, I can make as many imports as I want it will keep in adding?
10:06:03 <warlord> ravigehlot: yes
10:06:16 <warlord> and it will even detect that some transactions were imported already and ignore them
10:09:57 <ravigehlot> In trying to learn GNUCash, I started by balancing my accounts by choosing which transactions belongs to which accounts...in doing that..I noticed that GNUCash was automatically setting accounts for transactions that I had already balanced. So for example, if I balanced a transaction under Bank 1...all transactions that match that would automatically be balanced to Bank 1
10:10:15 <ravigehlot> That behavior doesn't seem to work for sub-accounts...
10:11:17 <ravigehlot> So if I create Groceries under my parent account Bank 1(checking account). If I balance a Walmart purchase under Groceries, it doesn't set all other Walmart purchases automatically...
10:15:21 <warlord> ravigehlot: Why would you have a "Groceries" account under your Bank? Groceries are an expense, not an asset.
10:16:16 <ravigehlot> hummm
10:16:32 <ravigehlot> so Groceries should not have any parent, correct? It should really only be its won
10:16:36 <ravigehlot> own*
10:16:43 <warlord> No, it's parent should be "Expenses"
10:16:55 <ravigehlot> oh k
10:16:58 <warlord> Perhaps you should start with the New File Hierarchy...
10:17:07 <warlord> ... and create a full set of accounts...
10:17:21 <ravigehlot> I am reading the entire documentation. So far, I have stopped at section 2.5.
10:17:29 <warlord> and then during the import from your Bank (which you map to Assets:Bank) you can map your transactions to the appropriate Expense accounts
10:17:33 <ravigehlot> Maybe I am getting a little ahead of myself here...
10:17:49 <warlord> Maybe... Especially if you have to pay to download OFX
10:18:13 <ravigehlot> I bank with CHASE. They are charging $9.95/month for OFX access.
10:18:20 <ravigehlot> I will do the important manually. lol
10:18:26 <ravigehlot> import*
10:21:22 <ravigehlot> Okay, I like your advice because it makes the job easier. First, I need to create the various accounts I will need through the "New File Hierarchy". Then during import of my transactions, I can classify it all transactions easily that way.
10:21:24 <ravigehlot> k
10:21:32 <warlord> Ah. Perhaps you could download QIF instead of OFX from them?
10:21:53 <ravigehlot> yes, QIF
10:22:31 <ravigehlot> Can you download OFX? I thought that OFX was the communication protocol used to communicate with the bank. It would be more like a webservice.
10:23:53 <warlord> Yes, often OFX can be downloaded. I don't know about CHASE. But OFX is both the file format *and* a "Direct Connect" protocol.
10:24:12 <ravigehlot> ohh...I am learning quite a bit today
10:25:53 <ravigehlot> Does GNUCash offer multiuser access? Can my wife access it from her computer as well?
10:31:51 <warlord> Yes and no. You can share your data file, however gnucash does not allow multiple, simultaneous users.
10:32:07 <warlord> So you have to be sure to shut down before she opens, and she has to shut down before you open.
10:35:13 <ravigehlot> okay. that is not a problem
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15:51:03 <Stick> We heat our home with Liquid Propane Gas (LPG) and each Summer we "pre-buy" an estimated quantity of fuel at the Summer rates, and then throughout the heating season the fuel is delivered and the quantity deducted from our pre-buy amount. At the end of the season any remaining LPG is sold back to them at the rate we paid. If we exceed the pre-buy amount, future deliveries are at market prices. This year two family members were unable to pay
15:53:40 <warlord> Stick: your message ended at: two family members were unable to pay
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16:03:18 <Stick> Sorry.
16:03:18 <Stick> to pay up front, so we combined their purchases into 1 large purchase (2600gallons @ US$1.27/gallon). Now when the LPG is delivered to the families house we get the delivery ticket which states the amount delivered and the family is to repay us at that time. How can I track this in GNUCash? Do I set it up as an investment where the shares are gallons and the share price becomes the price per gallon? How would I handle the other families' c
16:09:13 <warlord> stick, that ended at: the other families' c
16:09:48 <Stick> I will start over. I am sorry... been decades since I've been around here.
16:09:59 <warlord> Stick: no worries. Just use shorter lines :)
16:12:08 <Stick> We heat our home with Liquid Propane Gas (LPG) and each Summer we "pre-buy" an estimated quantity of fuel at the Summer rates, and then throughout the heating season the fuel is delivered and the quantity deducted from our pre-buy amount.
16:12:08 <Stick> At the end of the season any remaining LPG is sold back to them at the rate we paid.
16:12:08 <Stick> If we exceed the pre-buy amount, future deliveries are at market prices.
16:12:08 <Stick> This year two family members were unable to pay up front, so we combined their purchases into 1 large purchase (2600gallons @ US$1.27/gallon).
16:12:08 <Stick> Now when the LPG is delivered to the families house we get the delivery ticket which states the amount delivered and the family is to repay us at that time.
16:12:10 <Stick> How can I track this in GNUCash? Do I set it up as an investment where the shares are gallons and the share price becomes the price per gallon?
16:12:11 <Stick> How would I handle the other families' credit/liability?
16:13:45 <warlord> Honestly, I'd consider using a spreadsheet to keep track of it ;)
16:14:53 <warlord> Yes, you could set up a stock that holds the #gallons.. You would need a few of these accounts because you would need one for the intial 2600 purchase and then additional accounts for the usage..
16:15:25 <Stick> Then in GNU Cash when I post the check for the up-front purchase I put it all under my utilities Expenses?
16:15:29 <warlord> Another option would be to have one stock account where you buy 2600 @$1.27, and then every time you get a fill up you "sell" N gallons @ $1.27
16:16:33 <Stick> Okay. I believe I understand it.
16:16:44 <warlord> THen you just need to have multiple expense accounts -- one for each family involved -- to keep track of how much of the 2600 gallon investment each family consumed.
16:17:45 <warlord> So initial purchase would be a split transaction from each of the Expenses:Propane:Prepaid Families and your bank to the Assets:Propane for 2600 @ $1.27
16:18:01 <warlord> Then similar for the usages
16:23:51 <Stick> That makes sense. Let me see if I got it:
16:23:51 <Stick> Initial purchase buys the 2600 "shares" @ $1.27/share.
16:23:51 <Stick> And then each delivery is a sale posted against one of 3 expense accounts.
16:23:51 <Stick> When they repay us, that would also get posted in the relevant expense account.
16:23:51 <Stick> At the end of the year, the only expense account with a balance should be the one representing our own usage.
16:23:51 <Stick> Is that right?
16:29:09 <warlord> Yep
16:29:30 <warlord> Theoretically you could use Asset/Liability accounts for everyone else
16:29:42 <warlord> ... and an expense account for your own usage.
16:29:55 <warlord> But the rest is the same; at the end of the season everyone should be 0
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16:33:37 <Stick> A couple more questions, if I may. Fixed Asset, Current Asset, or Investment? Does it matter?
16:41:44 <warlord> Technically no, but I would put it under Current Asset or Investment. Fixed Assets are more like Houses and Cars.
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18:59:49 <Stick> Thanks again, warlord!
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23:14:03 <ravigehlot> @warlord Are you there?
23:14:03 <gncbot> ravigehlot: Error: "warlord" is not a valid command.
23:14:12 <ravigehlot> warlord Are you there?
23:19:05 <joe> gncbot what are you good for
23:19:05 <gncbot> joe: Error: "what" is not a valid command.
23:19:07 <joe> if not twitter
23:29:55 <ravigehlot> transactions that were payments to credit cards...
23:30:09 <ravigehlot> what account name should it go under?
23:30:13 <ravigehlot> liabilities: credit card?