Jesus,
On Sonntag, 28. April 2019 18:00:55 CEST Jesus Varela wrote:
Hi all,
I was reading the handbook and have a question.
"As with GnuCash, data is entered in the form of transactions, each
generally consisting of 2 or more split entries. In fact, valid GnuCash
transactions will always contain at least 2 splits, and to conform to
GnuCash's double-entry bookkeeping standard, these must be in monetary
balance (i.e., they must balance out to zero). KMyMoney encourages, but
does not enforce, this standard, but any imported transaction which is not
balanced will be marked in the ledger view as having a problem."
That is under the section, balanced transactions.
https://docs.kde.org/trunk5/en/extragear-office/kmymoney/details.impexp.html
I want to know, why doesn't KMyMoney adhere to the same standard, that the
monetary value must balance to zero?
In fact it does exactly that.
Double-entry accounting rules, should be standard, no?
Yes.
I am also wondering, while on a similar topic, why KMyMoney does not regard
expenses and income as accounts instead of expense categories. Then just
make everything a transfer.
We call them category but under the hood they are accounts.
For example, I could see having a list of accounts like so:
Expense Account: Dinning
And Categories:
- Fast Food
- restaurants
In that sense, KMyMoney does not support categories.
I want to use KMyMoney but I want to make sure it is adhering to all the
best financial practices. Treating personal finances like business
finances, same balance sheet reports, cash flow reports and profit loss
reports, is not a bad idea.
That's exactly what KMyMoney does (or at least tries to do)
The current cash flow report is not really
doing what a cash flow report should do. That report is extremely valuable
for people to better their financial situation.
That could well be. If you have some idea how to improve that are, please
provide a proposal.
Until KMyMoney is ready for business use, I don't think it needs the extra
customer, jobs and vendor support.
I am not aware that there are specific business related features built into
KMyMoney.
KMM is a great product! Thanks for all of your outstanding work.
Thanks for the feedback.
