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Linas Vepstas 2000-09-29 22:00:34 +00:00
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doc/sgml/C/xacc-acctypes.sgml
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@ -6,9 +6,9 @@
<SECT1>
<TITLE> Account Types</TITLE>
<PARA></PARA>
<PARA> GnuCash supports a number of different account types. You should
always choose the type that is appropriate for what you want to
record. If you're not sure, the explanations below should help you
<PARA> GnuCash supports a number of different account types.
Always choose the type that is appropriate for what you want to
record. If you're not sure, the following explanations should help you
decide.
<GLOSSLIST>
@ -23,38 +23,32 @@ decide.
<GLOSSENTRY>
<GLOSSTERM><EMPHASIS>Bank</EMPHASIS></GLOSSTERM>
<GLOSSDEF>
<PARA>The <EMPHASIS>Bank</EMPHASIS> account type denotes a savings or
checking account held at a bank or other financial
<PARA>The <EMPHASIS>Bank</EMPHASIS> account type denotes savings or
checking accounts held at a bank or other financial
institution.
Such accounts sometimes bear interest.
Some of these accounts may bear interest.
This is also the appropriate account type for check (debit) cards,
which directly withdraw payments from a checking account.
</PARA>
</GLOSSDEF>
</GLOSSENTRY>
<GLOSSENTRY>
<GLOSSTERM><EMPHASIS>Credit</EMPHASIS></GLOSSTERM>
<GLOSSTERM><EMPHASIS>Credit Card</EMPHASIS></GLOSSTERM>
<GLOSSDEF>
<PARA>The <EMPHASIS> Credit</EMPHASIS> card account is used to denote credit
card accounts, whether involving floating lines of credit as
with VISA, MasterCard, or Discover, as well as others like
American Express that do <EMPHASIS> not</EMPHASIS> permit you to maintain
continuing balances.</PARA>
<PARA>The introduction of <ULINK URL="http://www.visa.com/pd/debit/checkcard.html"> Check
Cards</ULINK> where payments are withdrawn directly from a
checking account makes the selection less clear; it is
probably more appropriate to treat a "Check Card" as a <EMPHASIS> Bank</EMPHASIS> account, as it does withdraw amounts directly from
such an account, not really involving any granting of
credit.
Note the ambiguity of AMEX and Check Cards. This shows that
deciding where to put accounts is not an exact science.
</PARA>
<PARA>The <EMPHASIS>Credit Card</EMPHASIS>account type is used
to denote credit
card accounts, both for cards that allow floating lines of
credit (e.g. VISA, MasterCard, or Discover)
and with cards that do not permit continueing balances
(e.g. American Express)
</GLOSSDEF>
</GLOSSENTRY>
<GLOSSENTRY>
<GLOSSTERM><EMPHASIS>Asset, Liability</EMPHASIS></GLOSSTERM>
<GLOSSDEF>
<PARA><EMPHASIS>Asset</EMPHASIS> and <EMPHASIS>Liability</EMPHASIS> accounts are used for
tracking things that are of value, but that are not so
directly translated into <EMPHASIS>cash</EMPHASIS>.
tracking things that are of value, but that are not
directly translatable into <EMPHASIS>cash</EMPHASIS>.
For instance, you might collect the costs of purchasing a
house into an asset account entitled <EMPHASIS>My
House</EMPHASIS>, or the
@ -82,10 +76,11 @@ decide.
<GLOSSDEF>
<PARA>Securities that you invest in are a form of asset that
are normally acquired with the express purpose of receiving
income either in the form of dividends, interest, or <LINK LINKEND="APPR"> Capital Gains.</LINK> There are a
multitude of securities markets around the world, and
securities that are widely enough traded can have pretty
concrete values that may be analyzed on a day-to-day
income either in the form of dividends, interest, or
<LINK LINKEND="APPR"> Capital Gains.</LINK> There are
securities markets around the world, and
widely traded securities with fairly
concrete values may be analyzed on a day-to-day
basis.</PARA>
<PARA>
Stock and Mutual Fund accounts are typically tracked in
@ -126,14 +121,14 @@ decide.
<GLOSSTERM><EMPHASIS><LINK LINKEND="XACC-INCOMEEXPENSE">Income,
Expense</LINK></EMPHASIS></GLOSSTERM>
<GLOSSDEF>
<PARA><EMPHASIS> Income</EMPHASIS> and <EMPHASIS>Expense</EMPHASIS> account types are used to
record income and expenses.
<PARA><EMPHASIS> Income</EMPHASIS> and <EMPHASIS>Expense</EMPHASIS>
account types are used to record income and expenses.
For example, if you deposit a paycheck in your bank account, you
should mark it as a transfer from an 'income' account type.
should mark it as a transfer from an 'income' account.
Marking income in this way helps balance the books: the change in your
net worth in the course of a few ekks, a few months, or a year, should
exactly equal your income (minus expenses) for the same period. </PARA>
The value stored in the bank account contributes to your 'net worth';
net worth in the course of a few weeks, a few months, or a year, should
exactly equal your income (minus expenses) for the same period.
The value stored in the bank account contributes to your 'net worth',
whereas the income contributes to your 'profits'.
</PARA>
@ -153,10 +148,10 @@ should be marked as a transfer from an account of type 'equity'.
Alternately, if you close and reopen all your books at the end of every
quarter/year, the 'equity' will be your net-worth at the begining of the
period: it equal all assets minus all liabilities.
As time goes by, you will have both income and expenses.
As time passes, you will have income and expenses.
At the end of the year, your net
worth will be the equity at the begining of the year, plus all income
minus all expense. This value will become, of course, the equity for
minus all expense. This value then becomes the equity for
the next accounting period.
</PARA>
</GLOSSDEF>