Gnucash - 2.29 Bug? - Equity

[John Ralls]

On Mar 6, 2010, at 5:27 PM, Nick Henshall wrote:

> Hi there,
> 
> First of all, thank you for developing this software.  It's excellent.
> 
> Quick question:
> 
> In my instance, 'Equity' does not seem to change from the 'Opening Balance'
> when entering expenses, I'm sure this should not be the case... Should it
> not be my Assets - Liabilities?  In this instance I believe it should be
> 668.70.
> 
> I've attached a screenshot to help explain this, thank you very much for
> your time.
> 

This is a user question and should be asked in gnucash-users. Gnucash-devel is for the developers and testers working on the next version of Gnucash.

No, income and expenses aren't reflected in equity until you do a "close books" which creates aggregate zeroing transactions in each income and expense account balanced in equity. This is further explained in the FAQ http://wiki.gnucash.org/wiki/FAQ#Q:_What_are_debits_and_credits.3F

The close-books procedure is explained in FAQ http://wiki.gnucash.org/wiki/FAQ#Q:_Is_there_book-closing_support.2C_yet.3F

Regards,
John Ralls