Using gnucash to track a couples' joint account?
February 19, 2012 12:36 PM Subscribe
How should we set up gnucash to track a couple's cash flow and joint account?
posted by lab.beetle to Work & Money (6 answers total) 1 user marked this as a favorite
We have a joint checking account, which we use for daily expenses like groceries, utilities, and eating out. In principle, this should be simple: each month we each contribute some amount to the joint account, and then we pay for our joint expenses directly from that account. In practice, it's more complicated, because we don't follow the rules: I might buy groceries using my own credit card, and then I resolve this by either directly taking money from the joint account to pay me back for the groceries, or I transfer less money into the joint account to make up for what I'm owed.
We are trying to start using gnucash to keep track of all of this. The problem is that we're new to double-entry bookkeeping and we're very confused about how to set up the different accounts and types of transfers. What's the right bookkeeping way to track the "income" our joint account does or should receive each month from each of us? Should we be using accounts receivable as a way to track how much we've actually paid versus what we should pay each month?