[moneydance] Capital sum Receipts

[David Carlson]

Satish Desai wrote:
> If I receive a capital sum, I debit my Bank account ( Increase bank balance
> ) and since this is not income, I want to credit Equity account ( Increase
> Net Worth balance ). How do I deal with such transactions?
>
> Same problem arises when dealing with a Liability account when the
> transaction does not affect Income\Expense account.
>
> Moneydance deals with Net Worth as a residual balance and does not allow
> direct transaction entry to Equity\Net Worth account.
>
> It would also be useful to have a General\Nominal ledger to carry out
> Journal entries as an option, at least for advanced users.
> This would enable flexibilty.
>
> Satish
> _______________________________________________
> moneydance-info mailing list
> moneydance-info at moneydance.com
> http://moneydance.com/mailman/listinfo/moneydance-info
>
>   
Satish,

Moneydance allows selection of asset and liability accounts in the 
category box of the transaction record, effectively creating a transfer, 
which I think is what you are asking for.  In the US, at least, net 
worth is always the sum of all asset accounts minus all liability 
accounts.  It is not an individual account.  If you sell an asset and 
receive cash, your net worth remains the same.  It does not increase 
unless you have income(a category).
You can always create an asset account named Net Worth, if you wish.  
Also, there are no restrictions that I am aware of to creating transfers 
between accounts or categories other than category to category transfers 
must either be initiated in a secondary window or by using Tools-Edit 
Categories to open a category register in the main window. That is a 
minor inconvenience to do something that would normally only happen in a 
General Ledger entry anyway.  I use the word Journal in the check number 
box for those cases.  Moneydance allows a lot of user creativity. 

Regards,

Dave