Entering historical data

[hendrik at topoi.pooq.com]

On Thu, May 14, 2009 at 06:52:54AM -0400, Mike or Penny Novack wrote:
> 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.

Even with this constraint, first make an immutable copy of your 2009 
books so you will have something to compare with when it comes to making 
sure your final 2008 balances match your original 2009 opening balances.  
It's easy to lose track otherwise, especially if you end up 
reconciling statements across the 2008-2009 boundary.

-- hendrik