account organization

[Bill Wohler]

Andrew Pimlott <gnucash-user at andrew.pimlott.net> writes:

> 1.  If you have, say, checking and savings accounts at two banks, do
>     you file the accounts as

I haven't needed the extra level, so I do it like this:

         Assets:Current:Bank1-Checking
         Assets:Current:Bank2-Checking
         Assets:Current:Bank1-Savings
         Assets:Current:Bank2-Savings

My Assets account is subdivided into four subaccounts: Accounts
Receivable (loans to others, work expenses), Fixed (home), Investments
(subcategories Funds, Retirement, Stocks), Liquid (checking, cash). I do
not recall why I chose the term "Fixed."

> 2.  How do you handle the "opening balance" of a long-standing
>     account for which you may enter old transactions into GNUCash?
>     Ie, say you enter the opening balance as $100 at T1, then decide
>     to enter a transaction of $50 at T2<T1.  The balance will now be
>     $150 instead of $100.  The only solution appears to be moving
>     the opening balance every time old transactions are entered,
>     which would be a pain if you like to enter old statements
>     piecemeal.

I do ensure that the opening balance is always the first transaction.
But you don't have to make the first transaction every time you add an
older transaction. Adjust it after a batch of new, older transactions,
occasionally, or at least before you need an accurate value for it.

--
Bill Wohler <wohler at newt.com>  http://www.newt.com/wohler/  GnuPG ID:610BD9AD
Maintainer of comp.mail.mh FAQ and MH-E. Vote Libertarian!
If you're passed on the right, you're in the wrong lane.