Opening a New Account with Existing Retained Earnings

[Roland Roberts]

Derek Atkins wrote:
> Mike or Penny Novack <stepbystepfarm at mtdata.com> writes:
>
>   
>> I might be wrong about that but can't see how you would do it, at
>> least not in a straightforward* manner. Please understand that it's an
>> issue  even when doing paper and ink bookkeeping in a "journalless"
>> system (you can do two side splits via a journal entry -- in effect
>> GnuCash and similar systems are like "cashbook" style accounting
>> except can enter form any account.
>>
>> Are we talking about the same thing? By "two way" I don't mean an
>> arbitrary number of splits on the debit side OR and arbitrary number
>> of splits on the credit side but an arbitrary number of splits for
>> both the credit and the debit side of a transaction.
>>
>> Michael
>>
>> * If it is possible I have a good idea HOW it might be done (I know
>> how I would try to do it)
>>     
>
> It's easily done.  Expand the transaction and just enter your splits.
> you can put amounts on either the debit or credit side for each split.
> You just need to make sure that at the end of the process the debits
> equal the credits.
>
> Note:  Don't use the 'enter' key.  Either tab off the end or use the
> arrow keys to move between columns/rows

The last time I tried to enter a transaction with splits on both sides, 
I ended up with multiple entries.  I recall depositing two checks to my 
checking account and I listed both of them in the split.  When I was 
done, I had two transactions in my checking account, one for each check 
that was deposited.  It made sense but was confusing since I had two 
transactions, both with the same total, and that total was only added to 
the account balance once (all quite correct, but confusing).  I had 
expected only one entry with the two splits.

I just don't do it that way anymore. 

roland

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