tag:infinitekind.tenderapp.com,2009-01-14:/discussions/general-questions/570-income-vs-bank-accountInfinite Kind: Discussion 2011-07-24T19:00:17Ztag:infinitekind.tenderapp.com,2009-01-14:Comment/3722352009-09-14T15:12:45Z2009-09-14T15:12:45Zincome vs bank account<div><p>Hi Chale</p>
<p>Please double check that you are applying the appropriate
category to the deposit transaction in your business bank account.
It might be helpful if you take a screenshot of the transaction
register for you business account and attach it here so I can see
if there is anything obviously incorrect. Press the print screen
button on your keyboard to take a screenshot.</p>
<p>Also double check that the category "work:business" is actually
set up as an income category. Click Tool->"Edit Categories" to
see the list of categories.</p>
<p>Sincerely</p>
<p>Ben Spencer</p></div>Ben Spencertag:infinitekind.tenderapp.com,2009-01-14:Comment/3722352009-09-14T20:45:37Z2009-09-14T20:45:37Zincome vs bank account<div><p>Here is the attached screen shot. I know I am doing something
wrong<br>
but my question but not sure what. I have that category as<br>
WORK:PRACTICE INCOME which is incorrectly listed as a EXPENSE<br>
account. Should I create a new income account listed as WORK with
a<br>
subcategory of PRACTICE INCOME? I guess I am a bit confused because
I<br>
always consider accounts to be an actual physical accounts and
not<br>
categories. Wouldn't I just want to create an income category and
not<br>
an income account?</p>
<p>Second, is there a way to make subaccounts so I can keep work
and home<br>
separate, i.e,</p>
<p>Root<br></p>
<pre>
<code>Home
Checking
Savings
Credit Card
Work
Checking
Savings
Credit Card</code>
</pre>
<p>Thanks,<br>
Charles</p></div>Charlestag:infinitekind.tenderapp.com,2009-01-14:Comment/3722352009-09-14T20:57:21Z2009-09-14T20:57:21Zincome vs bank account<div><p>Hi Charles</p>
<p>Categories are just another name for income or expense accounts.
They are accounts. We use the word category in the software in
order to make the process of double entry book keeping a little
more acessable to non accountants.</p>
<p>I recommend that you create a new category called "WORK:PRACTICE
INCOME " and be sure to set its type to income when you create
it.</p>
<p>You can set a property on an account called the parent. Click on
an account on the home page to bring up its transaction register.
The select Account->"Edit Account" from here you can set the
parent of an account. unfortunately you can only set a parent
account of the same type as the child account. So you cannot group
your work credit card with your work checking account.</p>
<p>Sincerely</p>
<p>Ben Spencer</p></div>Ben Spencer