Please add "Balance" account type which are "Asset" if the balance is positive and "Liability" if negative
Sometimes not easy decide that the account type is asset or liablity. For example: you pay the bills for the rent - and sometimes pay before deadline, sometimes after. If you have a down payment it is "asset", it you paid later, it is "liablility".
Furthermore, I use gnucash to check the balace with my friends.
Sometimes They buy something to me, sometimes I buy something to them. Now I use one "personal" account with two subaccount (asset and liablility), and sometimes I compensate the balace - it not so easy to handle.
If you can add a "Balance" type it will be unnecessary,
Not a good idea the use standalone "asset" or "liablilty" account, because the negative balance can cause inaccuracy (for example net worth linechart, rent down payment reduce the amount of liablilty which are not true.)
So, I think "Balance" type of account make easier to handle this type of transactions.
Gábor L.
shared this idea
-
tony coyle
commented
Rent is a liability. You might have an excess balance in that liability account (if it is currently overpaid), but from an accounting perspective it is still a liability...
If you have transactions with friends, then your friends should be represented by liability &/or asset subaccounts.
If you jointly have 'cash' positions, then treat all of the friend accounts as subordinate cash accounts... and simply transfer to/from as appropriate. Their net cash position (positive or negative) will be clear.
Similarly, you can treat friends as subordinate liability accounts...
This is all from YOUR perspective. -
Dean Gibson
commented
This is an accounting package that adheres to standard accounting practices. In my opinion, it should not be modified to fit a completely non-standard approach (or lack of understanding) to accounting.