Setting up equipment assets for new business

[John Jason Jordan]

On Sun, 28 Jun 2009 10:51:41 -0700
Beth Leonard <beth at oasis.slimy.com> dijo:

> I'm assuming you have this problem figured out by now -- use the "Transfer"
> column to select the Equity:Opening Balances: Contributions account.  After
> you enter an amount, the transaction will show up in both places in the
> correct columns.

Yes, thanks. I do have the issue handled now. And yes, I know how to
post the depreciation when I get to the end of the year. 

Now I'm off to google some more for how to add items to inventory which
were not directly purchased (no offsetting cr to cash). Google is not
helping so far - lots of stuff for huge corporations and special rules
- FIFO, accrual, etc. Haven't found anything relating to a little guy
who manufactures his own inventory in his garage.

My problem is that I do have a basic understanding of double entry
accounting, but I've never had to design a system for a business
before. That's a lot more challenging than just understanding that you
debit an asset account to raise the balance.

But I'll get there, God and Google willing!