First steps wtih Double-Entry bookkeeping

Daniel Carrera daniel.carrera at zmsl.com
Thu Feb 22 09:33:57 EST 2007


Hello all,

I'm just starting out in the neat and wonderful world of double-entry
bookkeeping. This is my first experience with GnuCash, and I have a
conceptual problem:

I am not starting from zero. I already have assets and I already have
liabilities. How do I enter those?

For example, my largest liability is a student loan that was retrieved
over a period of 4-5 years to pay for many courses. I've made some of
it, and much of it remains to be paid. If I had started using GnuCash 11
years ago, I would have a long trail of university-related expenses to
match a growing liability account. But I can't possibly recreate that
today.

How can I start my accounts book so that on "Day 1" I have $90 in my
wallet, $2,000 in bank account A, $4,000 in bank account B and $15,000
in a student loan?

Thank you for your help.

Cheers,
Daniel.
-- English is essentially French converted to 7-bit ASCII.
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