Questions tagged [bookkeeping]
Bookkeeping is the process of recording business data in a prescribed format. It often forms the first step in the accounting procedures of a company.
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Bookkeeping accounts for rent-to-own property
I own a house which I'm renting to tenants. We've entered a long-term rent-to-own contract, where the principle portion of each mortgage payment becomes potential equity for the tenant. How do I ...
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How to account for Capital Gains (Losses) in double-entry accounting?
After taking an introductory financial accounting class, I decided to use GnuCash to keep track of my personal finances. I have 5 major accounts in my general ledger:
Equity
Currently only used to ...
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Good way to record currency conversion transactions in personal accounting software?
I have deep personal financial connections to two countries, with different currencies. (They happen to be Canada/CAD and USA/USD, but I don't think that's material.) I have multiple bank and ...
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How to double-entry bookkeep money incoming from sold items?
I started doing double-entry bookkeeping with GnuCash to keep track of my personal finances, down to the penny. I have as assets my bank account and "cash in wallet", and many expense accounts for ...
user24385
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gnucash - Record several years data
Currently I am using GnuCash to record my personal expenses.
I am using it since the last year, so in my master book I have records belonging to the years 2013 and 2014.
Is that the correct way to ...
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Accounting equation: does income really decrease equity?
I am new to using double-entry bookkeeping for personal finances.
GnuCash uses a variant of the accounting equation that has five variables, and which seems to be known colloquially as an "expanded" ...
user13589
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Asset Sale: Net proceeds to cash AND capital gains?
This is very simple but I'm having trouble figuring out how to account for the sale of an asset, in double-entry bookkeeping, in a way that shows the net proceeds going to cash AND recorded as a ...
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What are the debits and credits in double-entry bookkeeping when someone pays in advance for a meal?
I'm doing some volunteer bookkeeping for a small nonprofit. If we have an upcoming event and people pay in advance for a meal, how do I enter that in a general ledger (updating Quickbooks for last ...
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