Unreconcile Bank Transactions

[David]

Well, I'll have to defer to others on that, as I am more of a home brewer than an accountant. Someone will weigh in, though, I'm sure.

If you do decide to change the transactions, I think you'll find that GnuCash makes that pretty easy. You could search for all these transactions, and in the results list, change the split to its proper account.

Cheers,
David 



_____________________________________________
From: EasyGoingPat <patrickskelton at gmail.com>
Sent: Mon Nov 14 22:37:11 GMT+05:00 2016
To: gnucash-user at gnucash.org
Subject: Re: Unreconcile Bank Transactions


Thank you for that information, David. I will check out that link, as I'd
like to know as much as possible about how accounting in general and GnuCash
in particular work.

Actually, I think I may be able to leave my accounts the way they are. The
mistake I have made (repeatedly) is to list cash withdrawn from the business
against the Owner's Equity account. This means that my Profit & Loss
statement for the given period shows no drawings. I have just read in an
accounting book that normal practise is to list cash withdrawn as an
Expense-Drawings and then at the end of the financial period to transfer
this to a debit against Owner's Equity.

Does this sound right? If it is then I can simply leave things the way they
are and accept that there is an error in the Profit and Loss for the period.

If I can get away with this then there is no need for me to go through all
the transactions, changing the debit account for each one.

- Patrick





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