Setting opening balances retrospectively.

Adam Funk a24061 at yahoo.com
Fri Sep 22 06:24:11 EDT 2006


(I've been experimenting with gnucash with the intention of "going
live" with it at the beginning of October.)

I noticed that when you create an account you have the option of
setting an opening balance, but you can't do this retrospectively with
"Edit account" from the accounts tree.  So I've been setting up asset
& liability accounts with very rough guesses of opening balances and
01 Oct as the relevant date, since I know that I can correct those values
in the register later.  But do I need to do this at all?

Is there any difference between an opening balance entered in the
"Create account" dialogue and a manual register entry with the typed
description "Opening Balance" offset against "Equity:Opening
Balances"?

And when, if ever, does an "Opening Balance" get locked --- when I
reconcile the account?

Thanks,
Adam



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