account transition to new year

[Derek Atkins]

Enrique Barahona Ramos <kikokun at telus.net> writes:

> Still, it's not quite clear to me what the purpose of the equity account 
> is then. Is it not supposed to reflect the net wealth?
> At what point do you transfer money to it and in what fashion (from what 
> account?)
> Cheers

The equity accounts show your net wealth at the "start", i.e., when
you start using gnucash.  The reports (e.g. Balance Sheet) will show
you your Equity Standing at any point once you start using GnuCash.
If you really wish you could rebalance your Income and Expense accounts
into Equity, but then you lose the ability to report on previous years.

-derek
-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
       warlord at MIT.EDU                        PGP key available