Entering historical data

[Mike or Penny Novack]

Ian Haycox wrote:

>Hi,
>
>I've just started using GC and entered opening balances from 1st Jan 2009
>and all my transactions. Everything reconcilled OK and I'm very impressed
>with GC. Thanks to all those who have contributed.
>
>I'd now like to be able to enter data for 2008, 2007,... Is there anything
>special I need to be aware of, e.g. opening balances of Equity accounts,
>i.e. do I need to adjust anything, to, for example, the 1st Jan 2008 before
>entering transactions.
>
>
>Thanks.
>
>  
>
Nothing REALLY special depending on how you do this. There is nothing 
"real time" about GnuCash so when you (now) enter transactions for 2007 
and 2008 it doesn't know that you didn't enter those transactions back 
then. However to prevent having to adjust or redo 2009 what I suggest is 
that you start a second set of books you might call "Pre 2009". You 
might begin as if you began using GnuCash in 2007, start with THAT set 
of opening balances. Then enter all your transactions through the end of 
2008.

You then take a balance sheet as of the end of 2008 and check that it 
agrees with the balance sheet as of the beginning of 2009. This is 
rather similar to the way it was in the old days with accounting done 
pen and ink on paper and it was customary to open a new set of books at 
the start of each accounting period and close them at the end. If your 
balance sheets do not agree, then either your 2007 opening balances were 
wrong or you missed some intervening transactions.

If you absolutely want just one set of books then how hard might depend 
upon exactly how you started your 2009 books. I have no idea what to 
tell you if you used the "opening balance" method when creating accounts 
but if you used the traditional method, creating the accounts with zero 
balances and then starting the books with two split transactions against 
equity that entered the starting balances of all other accounts then 
it's relatively simple. In effect you delete these two transactions 
replacing them with the corresponding transactions to start at 2007 
(actually, you just change the date and amounts) and then enter all 
intervening transactions. STRONG ADVICE -- if you do this first make a 
backup copy of your 2009 books! In fact you probably put this copy in a 
different directory and that becomes your books going back to 2007. You 
will still want to make that confirmation check that the balance sheets 
at the end of 2008 and the start of 2009 agree.

Michael

Michael

-- 
There is no possibility of social justice on a dead planet except the equality of the grave.