[GNC] WHY ARE THERE "IMBALANCE ENTRIES" AT ALL ?? JUST CURIOUS

[nvsoar]

On 06/03/21 11:14, Michael or Penny Novack wrote:
>
>> The only problem I have is that it is far too easy (IMO, IME!) to
>> accidentally create or use Orphan-* and Imbalance-* accounts just by
>> hitting the tab key one time too many. I'd prefer to be able to set an
>> option to disable that and to force me to balance the transaction
>> before leaving it.
>
> You mean by (on the fly) creating an account with a name like 
> "Imbalance" (or "Not-yet-assigned") to serve as a placeholder for when 
> you don't know where it should go? That anything in there means an 
> issue yet to be addressed? Gee, gnucash comes with that built in.
>
> I know if the ONLY books you are keeping under gnucash are informal 
> personal books, you might think it easy to just "create an account" on 
> the fly. But some of us are keeping more formal books and might need 
> to consult with somebody before making that decision. Sometimes it was 
> as simple as getting an answer to "what was that item?" in a packet of 
> receipts submitted for reimbursements.  Maybe need to get the 
> accountant involved, maybe the board of directors, or the owner(s) of 
> a business.
>
> Note that "Imbalance"isn't the only sort of special account used to 
> hold amounts until resolved. Many. if not most businesses have a 
> "Suspense" account used when a payment comes in without necessary 
> information to determine "what for". Then somebody's job to resolve 
> everything in suspense. Businesses that do not ordinarily handle cash 
> (and so not making daily bank deposits) might have an "undeposited 
> cash" account to deal with rare cash situations.
>
> Michael D Novack
Roger that.  I use a 'Pending Exchange' account when I haven't  yet 
figured out the situation at hand.
Many thanks and blessings to all who contribute to the health of 
GnuCash.  nvsoar