Opening Balance Source Account for Loans?

[Derek Atkins]

"Thomas J. Baker" <tjb at bakerconsulting.com> writes:

> What is the appropriate source account for the opening balance of loans.
> Like a checking account uses Equity:Opening Balances. What about for
> loans?

Equity:Opening Balances  (assuming the loan was already open at the
beginning of the period).  If the Loan is "new", then it's a transfer
to 'cash', or to your 'asset' account (e.g. Assets:House).

> Thanks,

-derek

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       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
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