Financial Reports on GNUCASH Version 2.4.0

[Derek Atkins]

Hi,

Sorry for the previous reply; your original message eventually got
moderated through.

Francis thomas Mandeya <ftmandeya at yahoo.com> writes:

> Can anyone tell me on using GNU_Cash version 2.4.0 for normal transactions which 
> are entered as follows in the ledger:
> --------------------------------------------------
>     Debit    =  Bank Deposits or Cash Accounts  
>               =  Expenses
> --------------------------------------------------
>      Credit = Income or Recepits or
>            
>                = Bank Withdrawals 
>      ________________________________

I believe you are conflating issues here, and probably not fully
understanding double-entry accounting.

> When you run the following reports why do you end up with negative reports in 
> the following accounts----

Probably because you entered the transaction backwards.

> Run Reports/Income & Expense/ Income Statement => Why do we end up
> with negative Income? How do we correct such a problem?

Fix your transactions.  When you have income you Debit Bank/Cash and
Credit Income.  When you have an expense you Credit Bank/Cash and Debit
Expense.  I suspect you have your transactions in reverse.

> Even when you run the balance sheet as follows:
>
> Run Reports/Assets and liabilities/Balance Sheet => A negative balance sheet 
> does appear? How do you correct this problem?
>
> Is there some technicality in GNUCash that I am missing?

Most likely you have your transactions backwards.

> Your assistance will be most appreciated as I have selected this software to 
> manage our information system.
>
>
> Thank you.
>
> Thomas Mandeya

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-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