First steps wtih Double-Entry bookkeeping

Daniel Carrera daniel.carrera at zmsl.com
Thu Feb 22 10:16:37 EST 2007


Thanks! And yeah, I'm reading the tutorial, and btw, it's very good.

Ok, I made my "Equity" account and set it to type "Equity". I use more
than one currency, so I created multiple opening-balance sub-accounts:

Equity:Opening Balance (CAD)
Equity:Opening Balance (GBP)
Equity:Opening balance (EUR)

Cheers,
Daniel.


On Thu, 2007-22-02 at 09:45 -0500, Derek Atkins wrote:
> Hi,
> 
> I highly recommend that you read the Concepts and Tutorial Guide
> at <http://www.gnucash.org> because it explains all this.
> 
> To do what you want to create an Opening Balance transaction
> between the Asset/Liability and an Equity account, usually
> Equity:Opening Balances.  Just make sure the debits and credits
> are correct so the money flows in the right direction.
> 
> -derek
> 
> Quoting Daniel Carrera <daniel.carrera at zmsl.com>:
> 
> > 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.
> >
> 
> 
> 
-- It is essential, that You the german Syntax and Punctuation right
get.
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