Understanding the Accounting
Community Banker keeps the accounts for the user's retail banking …
- individual customers accounts and the control account
- a control cash account to hold the other half of the double entry for deposits and withdrawals.
- charges and commissions
- taxes and surcharges
- loan book
- interest earned
- interest paid
- bad debts
- and anything else that touches the customer account
All these trading accounts are kept in a self-balancing Trading Ledger — every entry in a trading account has a corresponding double entry in the trading ledger. This makes integration into gnuCash simple.
The top level of the Community Banker CoA is then …
- Fixed Assets
- Current Assets
- Capital and Long Term Liabs
- Current Liabs
- Trading Ledger
The first four of these are maintained in gnuCash, in the same manner as any business. Community Banker maintains the Trading Ledger, and manages accounts and account holders.
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